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China's Film Industry Hopes for Bailouts As Coronavirus Crisis Worsens

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The film sector, to be sure, is just one of many areas of the enormous Chinese economy that has been hard hit by the novel coronavirus pneumonia

With nearly all of China's 70,000 movie theaters still weeks — if not months — away from reopening, many in the Beijing film industry have begun to hope for government bailouts as the only means of keeping their businesses afloat.

The arrival of the surveys came as cold comfort to many in the business — at least the government appeared sympathetic to their plight — but it also deepened the sense of alarm over just how destructive the public health crisis has already become for the entertainment and services sectors.around Jan. 24, on the eve of Chinese New Year, which typically makes for the most lucrative week of moviegoing anywhere in the world.

Meanwhile, film companies in all areas of the business continue shouldering their usual overhead of salaries, benefits, rents and so on.

 

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