Actor Donnie Yen in the film Ip Man 3. [Photo provided to China Daily]

2. Film Promotion Law takes effect March 1

Film Promotion Law, the first set of laws and regulations targeting China's cultural industry, which was approved by the central government Nov 7, 2016, officially came into effect on March 1. It clarifies punishment for the fabrication of box office revenues, increases government investments in the industry and reduces taxes, among other provisions. China's new film industry law provides the regulation needed to help bring the fast-growing market into a golden era.