China
Could “Pleasant Goat” Be China’s Best Ambassador?
China’s efforts to put its best face forward have ranged from a large advertisement in New York’s Times Square to a documentary channel by state broadcaster China Central Television featuring films about historical Chinese sites. But Jonathan So, senior adviser at Imagi, the studio that owns the rights to “Pleasant Goat and the Big Big Wolf,” a popular Chinese animated television series that is now being distributed by Disney in 52 markets around the Asia Pacific region, said that showing red flags and images of the Great Wall may not the best way to win audiences over. Mr. So –- whose cartoon about a family of goats and their adventures escaping from a wolf is now showing in places such as Australia, New Zealand, Malaysia, the Philippines and India with voiceovers in many different languages and dialects –- said as many as half of the fans of “Pleasant Goat” may not even know the cartoon originated in China. But for those who do, animation shows there “really are not too many boundaries” between cultures, he said. “You really don’t have to put a Chinese story, or to have the Great Wall in the scenery, or to wear something red,” said Mr. So, who started out as a toy manufacturer. “Pleasant Goat,” created in 2005, has a “sense of humor,” he said. “We put a lot of family elements in there, representing the Chinese family and how the kids are thinking, how they live their lives.” Marketing experts say that independently created cultural content may help China gain global cultural influence better than government efforts. Earlier this year, Ogilvy & Mather Worldwide Chief Executive Miles Young said Beijing should promote things “which are happening culturally and spontaneously” within the country, such as its vibrant art scene—something South Korea and Japan have done more successfully. Still, Mr. So said he believes the animation industry faces challenges. While filmmakers can earn returns from TV stations and box-office sales in the U.S. and other markets, Chinese animators have limited choices of broadcasting partners and their earnings come from government-awarded bonuses and toy sales, leaving less incentive to create original content, he said. Mr. So said “Pleasant Goat” was originally intended only for the China market, which he estimates is 130 million people. According to Imagi, “Pleasant Goat” programs occupied five of the top 10 ratings for animation programs in China based on prime-time viewership by children in cities between the ages of 4 and 14. –Loretta Chao
China’s efforts to put its best face forward have ranged from a large advertisement in New York’s Times Square to a documentary channel by state broadcaster China Central Television featuring films about historical Chinese sites. But Jonathan So, senior adviser at Imagi, the studio that owns the rights to “Pleasant Goat and the Big Big Wolf,” a popular Chinese animated television series that is now being distributed by Disney in 52 markets around the Asia Pacific region, said that showing red flags and images of the Great Wall may not the best way to win audiences over. Mr. So –- whose cartoon about a family of goats and their adventures escaping from a wolf is now showing in places such as Australia, New Zealand, Malaysia, the Philippines and India with voiceovers in many different languages and dialects –- said as many as half of the fans of “Pleasant Goat” may not even know the cartoon originated in China. But for those who do, animation shows there “really are not too many boundaries” between cultures, he said. “You really don’t have to put a Chinese story, or to have the Great Wall in the scenery, or to wear something red,” said Mr. So, who started out as a toy manufacturer. “Pleasant Goat,” created in 2005, has a “sense of humor,” he said. “We put a lot of family elements in there, representing the Chinese family and how the kids are thinking, how they live their lives.” Marketing experts say that independently created cultural content may help China gain global cultural influence better than government efforts. Earlier this year, Ogilvy & Mather Worldwide Chief Executive Miles Young said Beijing should promote things “which are happening culturally and spontaneously” within the country, such as its vibrant art scene—something South Korea and Japan have done more successfully. Still, Mr. So said he believes the animation industry faces challenges. While filmmakers can earn returns from TV stations and box-office sales in the U.S. and other markets, Chinese animators have limited choices of broadcasting partners and their earnings come from government-awarded bonuses and toy sales, leaving less incentive to create original content, he said. Mr. So said “Pleasant Goat” was originally intended only for the China market, which he estimates is 130 million people. According to Imagi, “Pleasant Goat” programs occupied five of the top 10 ratings for animation programs in China based on prime-time viewership by children in cities between the ages of 4 and 14. –Loretta Chao
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Could “Pleasant Goat” Be China’s Best Ambassador?
Business
China’s Golden Rooster Film Festival Kicks Off in Xiamen – Thailand Business News
The 2024 China Golden Rooster and Hundred Flowers Film Festival began in Xiamen on Nov 13, featuring awards, cultural projects worth 31.63 billion yuan, and fostering international film collaborations.
2024 China Golden Rooster and Hundred Flowers Film Festival Opens
The 2024 China Golden Rooster and Hundred Flowers Film Festival commenced in Xiamen, Fujian province, on November 13. This prestigious event showcases the top film awards in China and spans four days, concluding with the China Golden Rooster Awards ceremony on November 16.
The festival features various film exhibitions, including the Golden Rooster Mainland Film Section and the Golden Rooster International Film Section. These showcases aim to highlight the achievements of Chinese-language films and foster global cultural exchanges within the film industry.
On the festival’s opening day, a significant milestone was reached with the signing of 175 cultural and film projects, valued at 31.63 billion yuan ($4.36 billion). Additionally, the International Film and Television Copyright Service Platform was launched, furthering the globalization of Chinese film and television properties.
Source : China’s Golden Rooster film festival opens in Xiamen – Thailand Business News
China
Italy and China New DTA Set to Take Effect in 2025: Important Changes and Implications
Italy ratified an upgraded Double Tax Agreement (DTA) with China, effective in 2025, to reduce tax burdens, prevent evasion, and enhance investment. The DTA introduces modern provisions aligned with international standards, targeting tax avoidance and improving dispute resolution for Italian businesses.
Italy recently ratified the upgraded Double Tax Agreement (DTA), which will finally take effect in 2025. This agreement was signed in 2019 and was designed to reduce tax burdens, prevent tax evasion, and promote Italian investment in China.
On November 5, 2024, Italy’s Chamber of Deputies gave final approval to the ratification of the 2019 Double Tax Agreement (DTA) between Italy and China (hereinafter, referred to as the “new DTA”).
Set to take effect in 2025, the new DTA is aimed at eliminating double taxation on income, preventing tax evasion, and creating a more favorable environment for Italian businesses operating in China.
The ratification bill for the new DTA consists of four articles, with Article 3 detailing the financial provisions. Starting in 2025, the implementation costs of the agreement are estimated at €10.86 million (US$11.49 million) annually. These costs will be covered by a reduction in the special current expenditure fund allocated in the Italian Ministry of Economy’s 2024 budget, partially drawing from the reserve for the Italian Ministry of Foreign Affairs.
During the parliamentary debate, Deputy Foreign Minister Edmondo Cirielli emphasized the new DTA’s strategic importance, noting that the agreement redefines Italy’s economic and financial framework with China. Cirielli highlighted that the DTA not only strengthens relations with the Chinese government but also supports Italian businesses, which face increasing competition as other European countries have already established double taxation agreements with China. This ratification, therefore, is part of a broader series of diplomatic and economic engagements, leading up to a forthcoming visit by the President of the Italian Republic to China, underscoring Italy’s commitment to fostering bilateral relations and supporting its businesses in China’s complex market landscape.
The newly signed DTA between Italy and China, introduces several modernized provisions aligned with international tax frameworks. Replacing the 1986 DTA, the agreement adopts measures from the OECD/G20 Base Erosion and Profit Shifting (BEPS) Project and the OECD Multilateral Instrument (MLI), targeting tax avoidance and improving dispute resolution.
The Principal Purpose Test (PPT) clause, inspired by BEPS, is one of the central updates in the new DTA, working to prevent treaty abuse. This clause allows tax benefits to be denied if one of the primary purposes of a transaction or arrangement was to gain a tax advantage, a move to counter tax evasion through treaty-shopping.
| This article was first published by China Briefing , which is produced by Dezan Shira & Associates. The firm assists foreign investors throughout Asia from offices across the world, including in in China, Hong Kong, Vietnam, Singapore, and India . Readers may write to info@dezshira.com for more support. |
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Business
China’s New Home Prices Stabilize After 17-Month Decline Following Support Measures
China’s new home prices fell for the 17th month in October, declining 0.5% from September, but slowing, indicating potential market stabilization amid supportive measures. Second-hand home prices showed mixed trends.
Decline in China’s Home Prices Stabilizes
China’s new home prices continued to decline in October for the 17th consecutive month, although the drop showed signs of slowing. Recent support measures from Beijing appear to be inching the market toward stabilization, as evidenced by a lighter decline compared to earlier months.
Monthly and Yearly Comparisons
According to the latest data from the National Bureau of Statistics, new home prices across 70 mainland cities fell by 0.5% from September, marking the smallest decrease in seven months. Year-on-year, prices dropped by 6.2%, slightly worse than the September decline of 6.1%. In tier-1 cities like Beijing and Shanghai, prices decreased by 0.2%, a smaller fall than 0.5% in the previous month.
Second-Hand Home Market Trends
Second-hand home prices in tier-1 cities experienced a 0.4% increase in October, reversing a 13-month downward trend. Conversely, tier-2 cities observed a 0.4% drop in second-hand prices, while tier-3 cities faced a similar 0.5% decline. Overall, recent trends indicate a potential stabilization in China’s property market.
Source : China’s new home prices slow 17-month decline after support measures kick in
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