Shanghai to issue subsidies to tide cinemas over COVID-19 closures


Source: chinadaily.com.cn

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China's eastern metropolis Shanghai will offer subsidies of nearly 18 million yuan (about $2.6 million) to cinemas that have been shuttered amid the COVID-19 epidemic. The Shanghai Municipal Film Administration on Wednesday released a list of 345 cinemas that will receive the subsidies, ranging from large cineplexes to small start-up cinemas. The administration said the exact amount of subsidies each cinema receives will be based on their scale, number of screens and box office figures in 2019. Shanghai's cinema operators have described the subsidies as timely, as they struggle with zero incomes and mounting financial pressure following their closure in...