China
Taiwan’s ‘Night Market Hero’ Makes Mainland Debut
Agence France-Presse/Getty Images Taiwan actress Wang Tsai-hua, left, and Ke Chia-yen promote their film “Night Market Hero” in Taipei this week. More In film Bruce Lee Museum Put on Hold Donnie Yen: The Last Action Hero Zhang Ziyi’s Favorite Films Paz Vega: China’s Next Movie Star? Warner Bros. to Offer On-Demand Movies in China For Chinese moviegoers weary of the box-office-dominating propaganda film “Beginning of the Great Revival,” there is a lighter option en route from across the Strait. On July 12, the Taiwanese film “Night Market Hero” will open in 14 Chinese cities, becoming the first under new regulations that exempt Taiwanese movies from Beijing’s import quotas that limit the release of foreign films (only 50 a year are allowed in the mainland). The movie centers on a band of food hawkers seeking to save their night market from being turned into an apartment block by a corrupt politician and an unscrupulous developer. Although the Taiwanese government has billed the movie—which features iconic night-market treats like peppered steak and fried chicken— as a potential boon to tourism, the release also marks an opportunity for Taiwan’s film industry, past its glory days in the ’80s and ’90s when directors like Edward Yang and Hou Hsiao-hsien were putting out movies that still feature prominently in the pantheon of Chinese-language cinema. It remains to be seen how much money “Night Market Hero,” which will be released in mainland China by Bona Film Group Ltd. can bring in—US$4.9 million in Taiwan—but for a film industry with a domestic audience of only 22 million, every little bit counts. When the 2008 Taiwanese hit “Cape No. 7” was released in mainland China it earned only 20 million yuan (US$3.1 million), large by Taiwan standards, but peanuts by Chinese standards, says Wen-ching Chu, the head of Taiwan’s Government Information Office department of motion pictures. That puts some pressure on “Night Market Hero,” which Mr. Chu says has the eye of many Chinese film distributors looking to gauge how popular Taiwanese films will be in the Chinese market. Judging by the popularity of Taiwanese television in China, there will undoubtedly be interest. The common cliche in Taiwan is that mainland Chinese tourists who visit the island often fail to leave their hotel rooms at night they are so taken by evening variety shows. But “Night Market Hero” faces a unique set of challenges. True to the local side of Taiwanese culture it depicts, the movie is in the Hokkien dialect, spoken across Taiwan but incomprehensible to most residents of cities such as Beijing, Shanghai and Chongqing, where the movie will play. According to Mr. Chu, the movie will be translated into Chinese slang, but there is a strong possibility the translations of the dialect, which has its own sayings and jokes, will fall flat in Mandarin. Still, even if the translation doesn’t sparkle, the movie’s political elements may resonate with mainland audiences at a time when independent politicians are increasingly declaring their candidacy in county and township elections. In the film, the market democratically elects the film’s protagonist to stand up against the more powerful forces that want to shut it down. The rest of the characters, meanwhile, are free to protest and harness the power of the media to spread word of their plight. In Taiwan there is a well-worn idea that the best solution to the seemingly intractable cross-Strait political divide is for Taiwan to influence the mainland from within, holding itself up as an example of a democratic model. One way to promote that model is through movies, assuming they can get past the government’s censors, as “Night Market Hero” did. And even if future movies do less to propel political ideas—the next Taiwanese movie slated to come out in the mainland is a romantic comedy called “L-O-V-E” –the larger China market offers great potential for a Taiwanese film industry that has often had much to say, but rarely enough people to say it to. –Paul Mozur and Jenny W. Hsu
- Agence France-Presse/Getty Images
- Taiwan actress Wang Tsai-hua, left, and Ke Chia-yen promote their film “Night Market Hero” in Taipei this week.
For Chinese moviegoers weary of the box-office-dominating propaganda film “Beginning of the Great Revival,” there is a lighter option en route from across the Strait.
On July 12, the Taiwanese film “Night Market Hero” will open in 14 Chinese cities, becoming the first under new regulations that exempt Taiwanese movies from Beijing’s import quotas that limit the release of foreign films (only 50 a year are allowed in the mainland). The movie centers on a band of food hawkers seeking to save their night market from being turned into an apartment block by a corrupt politician and an unscrupulous developer.
Although the Taiwanese government has billed the movie—which features iconic night-market treats like peppered steak and fried chicken— as a potential boon to tourism, the release also marks an opportunity for Taiwan’s film industry, past its glory days in the ’80s and ’90s when directors like Edward Yang and Hou Hsiao-hsien were putting out movies that still feature prominently in the pantheon of Chinese-language cinema.
It remains to be seen how much money “Night Market Hero,” which will be released in mainland China by Bona Film Group Ltd. can bring in—US$4.9 million in Taiwan—but for a film industry with a domestic audience of only 22 million, every little bit counts. When the 2008 Taiwanese hit “Cape No. 7” was released in mainland China it earned only 20 million yuan (US$3.1 million), large by Taiwan standards, but peanuts by Chinese standards, says Wen-ching Chu, the head of Taiwan’s Government Information Office department of motion pictures.
That puts some pressure on “Night Market Hero,” which Mr. Chu says has the eye of many Chinese film distributors looking to gauge how popular Taiwanese films will be in the Chinese market. Judging by the popularity of Taiwanese television in China, there will undoubtedly be interest. The common cliche in Taiwan is that mainland Chinese tourists who visit the island often fail to leave their hotel rooms at night they are so taken by evening variety shows.
But “Night Market Hero” faces a unique set of challenges. True to the local side of Taiwanese culture it depicts, the movie is in the Hokkien dialect, spoken across Taiwan but incomprehensible to most residents of cities such as Beijing, Shanghai and Chongqing, where the movie will play. According to Mr. Chu, the movie will be translated into Chinese slang, but there is a strong possibility the translations of the dialect, which has its own sayings and jokes, will fall flat in Mandarin.
Still, even if the translation doesn’t sparkle, the movie’s political elements may resonate with mainland audiences at a time when independent politicians are increasingly declaring their candidacy in county and township elections. In the film, the market democratically elects the film’s protagonist to stand up against the more powerful forces that want to shut it down. The rest of the characters, meanwhile, are free to protest and harness the power of the media to spread word of their plight.
In Taiwan there is a well-worn idea that the best solution to the seemingly intractable cross-Strait political divide is for Taiwan to influence the mainland from within, holding itself up as an example of a democratic model. One way to promote that model is through movies, assuming they can get past the government’s censors, as “Night Market Hero” did.
And even if future movies do less to propel political ideas—the next Taiwanese movie slated to come out in the mainland is a romantic comedy called “L-O-V-E” –the larger China market offers great potential for a Taiwanese film industry that has often had much to say, but rarely enough people to say it to.
–Paul Mozur and Jenny W. Hsu
China’s economy during the past 30 years has changed from a centrally planned system that was largely closed to international trade to a more market-oriented economy that has a rapidly growing private sector and is a major player in the global economy.
One demographic consequence of the “one child” policy is that China is now one of the most rapidly aging countries in the world.
China is also the second largest trading nation in the world and the largest exporter and second largest importer of goods.
The PRC government’s decision to permit China to be used by multinational corporations as an export platform has made the country a major competitor to other Asian export-led economies, such as South Korea, Singapore, and Malaysia.
Available energy is insufficient to run at fully installed industrial capacity, and the transport system is inadequate to move sufficient quantities of such critical items as coal.
Agricultural output has been vulnerable to the effects of weather, while industry has been more directly influenced by the government.
China has acquired some highly sophisticated production facilities through trade and also has built a number of advanced engineering plants capable of manufacturing an increasing range of sophisticated equipment, including nuclear weapons and satellites, but most of its industrial output still comes from relatively ill-equipped factories.
The market-oriented reforms China has implemented over the past two decades have unleashed individual initiative and entrepreneurship, whilst retaining state domination of the economy.
China now ranks as the fifth largest global investor in outbound direct investment (ODI) with a total volume of $56.5 billion, compared to a ranking of 12th in 2008, the Ministry of Commerce said on Sunday.
“The growth rate (for ODI) in the next few years will be much higher than previous years,” Shen said, without elaborating.
China is aiming to be the world’s largest new energy vehicle market by 2020 with 5 million cars.
China’s challenge in the early 21st century will be to balance its highly centralized political system with an increasingly decentralized economic system.
Since the late 1970s, China has decollectivized agriculture, yielding tremendous gains in production.
Except for the oasis farming in Xinjiang and Qinghai, some irrigated areas in Inner Mongolia and Gansu, and sheltered valleys in Tibet, agricultural production is restricted to the east.
Due to improved technology, the fishing industry has grown considerably since the late 1970s.
China is one of the world’s major mineral-producing countries.
Alumina is found in many parts of the country; China is one of world’s largest producers of aluminum.
China also has extensive hydroelectric energy potential, notably in Yunnan, W Sichuan, and E Tibet, although hydroelectric power accounts for only 5% of the country’s total energy production.
Brick, tile, cement, and food-processing plants are found in almost every province.
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Taiwan’s ‘Night Market Hero’ Makes Mainland Debut
China
Q1 2024 Brief on Transfer Pricing in Asia
Indonesia’s Ministry of Finance released Regulation No. 172 of 2023 on transfer pricing, consolidating various guidelines. The Directorate General of Taxes focuses on compliance, expanded arm’s length principle, and substance checks. Singapore’s Budget 2024 addresses economic challenges, operational costs, and sustainability, implementing global tax reforms like the Income Inclusion Rule and Domestic Top-up Tax.
Indonesia’s Ministry of Finance (MoF) has released Regulation No. 172 of 2023 (“PMK-172”), which prevails as a unified transfer pricing guideline. PMK-172 consolidates various transfer pricing matters that were previously covered under separate regulations, including the application of the arm’s length principle, transfer pricing documentation requirements, transfer pricing adjustments, Mutual Agreement Procedure (“MAP”), and Advance Pricing Agreements (“APA”).
The Indonesian Directorate General of Taxes (DGT) has continued to focus on compliance with the ex-ante principle, the expanded scope of transactions subject to the arm’s length principle, and the reinforcement of substance checks as part of the preliminary stage, indicating the DGT’s expectation of meticulous and well-supported transfer pricing analyses conducted by taxpayers.
In conclusion, PMK-172 reflects the Indonesian government’s commitment to addressing some of the most controversial transfer pricing issues and promoting clarity and certainty. While it brings new opportunities, it also presents challenges. Taxpayers are strongly advised to evaluate the implications of these new guidelines on their businesses in Indonesia to navigate this transformative regulatory landscape successfully.
In a significant move to bolster economic resilience and sustainability, Singapore’s Deputy Prime Minister and Minister for Finance, Mr. Lawrence Wong, unveiled the ambitious Singapore Budget 2024 on February 16, 2024. Amidst global economic fluctuations and a pressing climate crisis, the Budget strategically addresses the dual challenges of rising operational costs and the imperative for sustainable development, marking a pivotal step towards fortifying Singapore’s position as a competitive and green economy.
In anticipation of global tax reforms, Singapore’s proactive steps to implement the Income Inclusion Rule (IIR) and Domestic Top-up Tax (DTT) under the BEPS 2.0 framework demonstrate a forward-looking approach to ensure tax compliance and fairness. These measures reaffirm Singapore’s commitment to international tax standards while safeguarding its economic interests.
Transfer pricing highlights from the Singapore Budget 2024 include:
This article is republished from China Briefing. Read the rest of the original article.
China Briefing is written and produced by Dezan Shira & Associates. The practice assists foreign investors into China and has done since 1992 through offices in Beijing, Tianjin, Dalian, Qingdao, Shanghai, Hangzhou, Ningbo, Suzhou, Guangzhou, Dongguan, Zhongshan, Shenzhen, and Hong Kong. Please contact the firm for assistance in China at china@dezshira.com.
China
New Report from Dezan Shira & Associates: China Takes the Lead in Emerging Asia Manufacturing Index 2024
China has been the world’s largest manufacturer for 14 years, producing one-third of global manufacturing output. In the Emerging Asia Manufacturing Index 2024, China ranks highest among eight emerging countries in the region. Challenges for these countries include global demand disparities affecting industrial output and export orders.
Known as the “World’s Factory”, China has held the title of the world’s largest manufacturer for 14 consecutive years, starting from 2010. Its factories churn out approximately one-third of the global manufacturing output, a testament to its industrial might and capacity.
China’s dominant role as the world’s sole manufacturing power is reaffirmed in Dezan Shira & Associates’ Emerging Asia Manufacturing Index 2024 report (“EAMI 2024”), in which China secures the top spot among eight emerging countries in the Asia-Pacific region. The other seven economies are India, Indonesia, Malaysia, the Philippines, Thailand, Vietnam, and Bangladesh.
The EAMI 2024 aims to assess the potential of these eight economies, navigate the risks, and pinpoint specific factors affecting the manufacturing landscape.
In this article, we delve into the key findings of the EAMI 2024 report and navigate China’s advantages and disadvantages in the manufacturing sector, placing them within the Asia-Pacific comparative context.
Emerging Asia countries face various challenges, especially in the current phase of increased volatility, uncertainty, complexity, and ambiguity (VUCA). One notable challenge is the impact of global demand disparities on the manufacturing sector, affecting industrial output and export orders.
This article is republished from China Briefing. Read the rest of the original article.
China Briefing is written and produced by Dezan Shira & Associates. The practice assists foreign investors into China and has done since 1992 through offices in Beijing, Tianjin, Dalian, Qingdao, Shanghai, Hangzhou, Ningbo, Suzhou, Guangzhou, Dongguan, Zhongshan, Shenzhen, and Hong Kong. Please contact the firm for assistance in China at china@dezshira.com.
China
Is journalist Vicky Xu preparing to return to China?
Chinese social media influencers have recently claimed that prominent Chinese-born Australian journalist Vicky Xu had posted a message saying she planned to return to China.
There is no evidence for this. The source did not provide evidence to support the claim, and Xu herself later confirmed to AFCL that she has no such plans.
Currently working as an analyst at the Australian Strategic Policy Institute, or ASPI, Xu has previously written for both the Australian Broadcasting Corporation, or ABC, and The New York Times.
A Chinese language netizen on X initially claimed on March 31 that the changing geopolitical relations between Sydney and Beijing had caused Xu to become an expendable asset and that she had posted a message expressing a strong desire to return to China. An illegible, blurred photo of the supposed message accompanied the post.
This claim was retweeted by a widely followed influencer on the popular Chinese social media site Weibo one day later, who additionally commented that Xu was a “traitor” who had been abandoned by Australian media.
Following the publication of an ASPI article in 2021 which exposed forced labor conditions in Xinjiang co-authored by Xu, the journalist was labeled “morally bankrupt” and “anti-China” by the Chinese state owned media outlet Global Times and subjected to an influx of threatening messages and digital abuse, eventually forcing her to temporarily close several of her social media accounts.
AFCL found that neither Xu’s active X nor LinkedIn account has any mention of her supposed return to China, and received the following response from Xu herself about the rumor:
“I can confirm that I don’t have plans to go back to China. I think if I do go back I’ll most definitely be detained or imprisoned – so the only career I’ll be having is probably going to be prison labor or something like that, which wouldn’t be ideal.”
Neither a keyword search nor reverse image search on the photo attached to the original X post turned up any text from Xu supporting the netizens’ claims.
Translated by Shen Ke. Edited by Shen Ke and Malcolm Foster.
Asia Fact Check Lab (AFCL) was established to counter disinformation in today’s complex media environment. We publish fact-checks, media-watches and in-depth reports that aim to sharpen and deepen our readers’ understanding of current affairs and public issues. If you like our content, you can also follow us on Facebook, Instagram and X.
Read the rest of this article here >>> Is journalist Vicky Xu preparing to return to China?
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