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Hi, this is Evelyn, writing to you from Beijing. Welcome to the latest edition of The China Connection — a snapshot of what I'm seeing and hearing from local businesses.
中国没有''没有"奥德赛,"的70毫米Imax银幕，但这并没有'阻止粉丝抢购高级放映的门票。这个周末的几场演出几乎全部售空,，在我周日参观的北京剧院, 很少有人排队入场。但是好莱坞做得足够吗?
China doesn't have any 70mm Imax screens for "The Odyssey," but that hasn't stopped fans from snapping up tickets for premium screenings. Several showings were nearly sold out this weekend, and at the Beijing theater I visited Sunday, there was a rare line to get in. But is Hollywood doing enough?
大故事
The big story
America的 movie stars are back in China.
From Timothee Chalamet selling tofu in Chengdu to Tom Holland and Zendaya enjoying sheep-themed matcha in Shanghai, Hollywood is actively courting a massive market that的 tightly controlled by Beijing.
Some of it的 paying off.根据票务网站猫眼的数据，"《蜘蛛侠》:全新一天"已跻身中国今年票房最高的10部电影,。至于"The Odyssey,"，在8月14日正式上映之前，仅用两个周末的有限放映时间，它就已经在中国,获得了超过$7百万的票房。
Some of it的 paying off. "Spider-Man: Brand New Day" has already broken into the 10 highest-grossing movies in China this year, according to ticketing site Maoyan. As for "The Odyssey," it has already made more than $7 million in China, in just two weekends of limited screenings ahead of its official Aug. 14 release.
一次病毒式传播的非传统采访也引起了人们的关注。在当地媒体的几次露面中，, 总监克里斯托弗·诺兰 (Christopher Nolan) 与波士顿学院博士生诸葛一阳 (Yiyang Zhuge,) 进行了交谈，她也主持了自己的播客。他们的哲学对话在流媒体网站 Bilibili, 上获得了超过 100 万次观看，在 X 上获得了数百万次观看。
Adding attention was an unconventional interview that went viral. Among a few local media appearances, director Christopher Nolan spoke with Yiyang Zhuge, a Boston College doctoral candidate who also hosts her own podcast. Their philosophical conversation has racked up more than 1 million views on streaming site Bilibili, and millions more on X.
诸葛声称，环球影业的人在几周前就联系到了北京，安排了首映后的采访。这与的工作室报道的专注于美国传统媒体形成鲜明对比。环球影业的代表没有回应置评请求。
Zhuge claims someone from Universal reached out several weeks earlier to set up the post-premiere interview in Beijing. It contrasts with the studio的 reported focus on traditional media in the U.S. A representative for Universal did not respond to a request for comment.
随着今年美中紧张局势缓和，接触不断增加。
The increased engagement comes as U.S.-China tensions have thawed this year.
, 备案数据显示，今年前六个月, Imax 在中国大陆放映了 14 部好莱坞电影,，而去年同期仅为 2 部。
In the first six months, Imax screened 14 Hollywood films in mainland China, up from just two during the same period last year, filing data indicated.
并不是所有的电影都取得了不错的成绩。 《"Marty Supreme"》和《"穿普拉达的女魔头2"》都将线索带到了中国，但票房却表现不佳。 "《玩具总动员》5" 只取得了一定的成功。
Not all the movies have done well. "Marty Supreme" and "Devil Wears Prada 2" both sent their leads to China but their box office struggled. "Toy Story 5" had only modest success.
"最近几周中国的票房大幅上升," Imax 首席执行官理查德·盖尔方德 (Richard Gelfond) 在 7 月底的财报电话会议上表示, 根据 FactSet 记录。他预计即将上映的电影 "Dune: 第三部分" 和 "Avengers: Doomsday 将进一步改进。"
"The box office has picked up dramatically in China in recent weeks," Imax CEO Richard Gelfond said on an earnings call in late July, according to a FactSet transcript. He anticipates further improvement with upcoming films "Dune: Part Three" and "Avengers: Doomsday."
The company also expects to benefit from popular Chinese series due to see new films released early next year, such as sci-fi title "The Wandering Earth."
但消费者的消费方式很难摆脱更大的变化。行业数据显示，上半年中国电影票房骤降40%。
But it的 hard to shake off bigger changes in how consumers spend. Industry figures show China的 box office plunged 40% in the first half of the year.
内容流也不再是单向的。 Two of China的 three highest-grossing films domestically this year have rolled out to other parts of Asia and abroad, helped by Alibaba的 Damai Entertainment.
The content flow is also no longer one-way. Two of China的 three highest-grossing films domestically this year have rolled out to other parts of Asia and abroad, helped by Alibaba的 Damai Entertainment.
到目前为止，他们的海外票房成绩并不理想。 But in a reminder of the Chinese studios potential, it was just last year that Chinese animated movie "Ne Zha 2" beat Pixar的 "Inside Out 2" as the top-grossing animated film worldwide, albeit largely at home.
Their overseas box office results are modest so far. But in a reminder of the Chinese studios potential, it was just last year that Chinese animated movie "Ne Zha 2" beat Pixar的 "Inside Out 2" as the top-grossing animated film worldwide, albeit largely at home.
新的格式和模型
New formats and models
中国的一些公司正在进一步颠覆娱乐业。
Some companies in China are going further to upend entertainment.
根据 Omdia 的数据，的 中国主导的微剧趋势已在美国移动, 上超过了 Netflix。然后是沉浸式虚拟现实的兴起。
There的 the Chinese-led micro-drama trend that的 overtaken Netflix in the U.S. on mobile, according to Omdia. Then there的 the rise of immersive virtual reality.
由于人工智能使工作室能够更便宜、更快速地创建 VR 内容, 消费者可以更频繁地体验新作品, 创造"下一代影院," Ethan Tang, Metavision International 的首席执行官, 上个月在成都告诉我。
As artificial intelligence enables studios to create VR content more cheaply and quickly, consumers can experience new productions more frequently, creating "the next generation of cinema," Ethan Tang, CEO of Metavision International, told me in Chengdu last month.
VR 体验运营商与法国, 西班牙和加拿大, 的工作室合作，在中国和其他国家的指定场所使用 Pico 或 HTC 耳机，让人们沉浸在以古埃及或恐龙时代为背景的 40 分钟故事, 中。
Working with studios in France, Spain and Canada, the VR experience operator uses Pico or HTC headsets at designated venues in China and other countries to immerse people in 40-minute stories, set in ancient Egypt or the time of the dinosaurs.
There的 still a ways to go before replacing movie theaters. Tang said that across four venues, the company made $14.82 million in ticket sales in three years.但他表示 Metavision 已经实现盈利。
There的 still a ways to go before replacing movie theaters. Tang said that across four venues, the company made $14.82 million in ticket sales in three years. But he said Metavision is already profitable.
It reflects how VR may not be for the mass home market — and how cinematic experience may evolve.
"当一名操作员控制硬件,、环境, 和叙述作为单一集成体验时，沉浸式娱乐的商业化速度最快," IMD 商学院未来准备中心副研究主任单佳露, 表示。
"Immersive entertainment commercializes fastest when one operator controls the hardware, the environment, and the narrative all together as a single integrated experience," said Jialu Shan, an associate research director at the Center for Future Readiness at IMD Business School.
"中国真正独特的一件事是大型,基于位置的VR场所的庞大规模,"她说,指出国家对此类体验的政策支持。她预计，结合旅游业,，这'将是一种更具投资价值的趋势。
"One thing genuinely unique to China is the sheer scale of the large-format, location-based VR venues," she said, noting state policy support for such experiences. In combination with tourism, it的 a trend she expects is more investable.
But Hollywood hasn't made the leap yet.
当我向唐询问美国内容合作伙伴, 时，他说好莱坞工作室将他们的角色授权给 VR 制作人只是"只是时间问题"。他声称Apple Vision Pro产品工程师去年已经在上海尝试过Metavision的 VR体验。苹果没有回应置评请求。
When I asked Tang about American content partners, he said it was "just a matter of time" before Hollywood studios license their characters to VR producers. He claimed Apple Vision Pro product engineers already tried Metavision的 VR experience in Shanghai last year. Apple did not respond to a request for comment.
尽管美国巨头关注中国的 娱乐市场,，但它的变化速度可能比他们能够适应的要快。
Even as U.S. giants eye China的 entertainment market, it may be changing faster than they can adapt.
需要知道
Need to know
China的 crude oil imports hit a three-month high in July
霍尔木兹海峡紧张局势的解冻提高了中国上个月的的原油进口量,，同比降幅收窄至仅24%,，而6月份的降幅为41%。人工智能相关需求带动中国 7 月份整体出口同比增长近 24%。
A thaw in Strait of Hormuz tensions lifted China的 crude imports last month, narrowing the year-on-year decline to just 24%, versus a 41% drop in June. AI-related demand drove China的 overall export growth of nearly 24% year-on-year in July.
特习会前中美紧张局势加剧
U.S.-China tensions ramp up ahead of Trump-Xi meeting
中国对美国最近的行动进行报复—，例如限制外国制造的人形机器人—，对向美国销售无人机实施出口管制。北京还禁止中国公司与美国实体合作，完成在中国销售电子产品和其他商品所需的工厂检查。
China retaliated against recent U.S. actions — such as restrictions on foreign-made humanoid robots — with export controls on drone sales to the U.S. Beijing also banned Chinese companies from working with U.S. entities for completing factory inspections required for selling electronics and other goods in China.
北京瞄准离岸信托，中国富人争先恐后寻求税务建议
Wealthy Chinese scramble for tax advice as Beijing targets offshore trusts
中国'的超级富豪长期使用离岸信托,来储存财富,，现在面临多项税务事件—，每次税率为20%。新规则涵盖自 2023, 年初以来转移至信托的资产，必须在今年 10 月 22 日之前缴纳补缴税款。
Offshore trusts, long used by China的 ultra-rich to store wealth, now face multiple tax events — at a 20% rate each. The new rules cover assets transferred to the trusts since the start of 2023, on which back taxes must be paid by Oct. 22 this year.
Coming up
8月17:零售额,工业生产和固定资产投资数据
Aug. 17: Retail sales, industrial production and fixed-asset investment data
8月19日 - 23:世界机器人大会在北京举行
Aug. 19 - 23: World Robot Conference in Beijing
8 月 22 日 - 26: 世界仿人机器人运动会在北京举行
Aug. 22 - 26: World Humanoid Robot Games in Beijing
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