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China Box Office Poised to Surpass U.S. as World’s Largest Moviegoing Market Amid Pandemic

China Box Office Poised to Surpass U.S. as World’s Largest Moviegoing Market Amid Pandemic

China’s patriotic “My People, My Homeland” has grossed $325 million as of Monday evening local time, earning more money in less than two weeks than the $323 million that Christopher Nolan’s “Tenet” has grossed globally in over a month, according to data from Maoyan and Box Office Mojo.

This weekend, the total China box office hit $68 million, once again far surpassing sales in North America, where cinemas earned less than $9.5 million. To date, the Chinese box office has grossed $1.9 billion so far in 2020. The tally puts China now neck-and-neck with the North American market’s year-to-date earnings of $2.08 billion, according to Comscore. (Both markets are down 76% year-on-year.)

Cinema-going is on the rise in China as the pandemic remains under control, with strong local films set to release in the remainder of the year. Meanwhile, U.S. theaters are heading for trouble as Hollywood studio tentpoles drop off the calendar and the coronavirus continues to rage across the states. Given these factors, it now seems inevitable that the Middle Kingdom will soon surpass the U.S. as the world’s largest film market in 2020.

The performance of “My People, My Homeland” demonstrates the extent to which China’s market has recovered in the wake of COVID-19 and remains robust enough to send local tentpoles too jingoistic to entice audiences abroad nonetheless soaring to great heights.

Produced by “Wolf Warrior 2” and “The Wandering Earth” studio Beijing Culture, the film once again led the box office this weekend with sizable sales of $38.2 million, according to figures from consultancy Artisan Gateway. The omnibus title features five shorts from a who’s who of China’s most bankable directors: Ning Hao (“Crazy Alien”), Xu Zheng (“Lost in Russia”), Chen Sicheng (“Detective Chinatown 3”), Yan Fei and Peng Damo (“Hello Mr. Billionaire”), Deng Chao

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Tesla’s Model 3 Lost In The World’s Most Advanced EV Market In A Peak Month (NASDAQ:TSLA)

Tesla’s Model 3 Lost In The World’s Most Advanced EV Market In A Peak Month (NASDAQ:TSLA)


Norway is a small automotive market but is widely regarded as the most advanced market for electric vehicles (EVs) in the world thanks to generous government incentives. Battery electric vehicles (BEVs) and hybrids accounted for over 80% of sales in September 2020 and the national parliament has set 2025 as the target year for the country to go fully electric.

This is why electric vehicle data from Norway if often used as an indicator for the prediction which models and manufacturers will excel in a world in which electric vehicles become the norm. There is also no local player, which means the Norwegian EV market is not skewed like some other countries like France where the Renault Zoe reigns supreme.

As I mentioned in my previous SA article on Tesla (TSLA), its Model 3 always performs poorly in Europe during the first month of each quarter, with a big push coming in the third month.

Well, the Model 3 just lost decisively in Norway in September with the Volkswagen ID.3 getting 77% more sales.

The EV market in Norway

According to data from ElbilStatistikk, the top three bestselling EVs during the month of September were ID.3, Model 3, and Polestar 2 with 1,974, 1,116, and 928 units, respectively.

(Source: ElbilStatistikk)

October is starting even better for the ID.3 with 213 units sold so far. The Model 3 has just five, but this is normal as Tesla usually performs poorly in the first month of each quarter as I mentioned.

However, 2020 YTD is also being dominated by another VW model, the Audi E-tron. And the Model 3 will be surpassed by the ID.3 in around three weeks at this pace.


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Euromoney World’s Best Bank for Financial Inclusion 2020: BNP Paribas

Euromoney World’s Best Bank for Financial Inclusion 2020: BNP Paribas

World’s Best Bank For Financial Inclusion: BNP Paribas | Euromoney Awards for Excellence 2020

The value of financial inclusion and financial education has become more evident during the Covid-19 crisis. One bank stands out for its investments in financial inclusion around the world and its work bringing a broader investor community to microfinance. That bank is BNP Paribas, which wins the award for the world’s best bank for financial inclusion this year.

BNPP launched its first microfinance partnership with Crédit Rural de Guinée 30 years ago in 1989 – a partnership that continues to this day. Since then, the bank has offered financial support to 84 microfinance institutions (MFIs) in 33 countries, with a total of €900 million in accumulated loans.

In 2019 alone, the group’s overall support of microfinance exceeded €357 million, enabling the direct financing of 28 MFIs in 15 countries, plus more than 100 indirectly in most countries around the world via 11 dedicated funds in which different entities of the group invest.

During Covid-19, that support has increased: the bank has deployed specific support to microfinance in 10 countries and has provided subsidies to tackle the urgent difficulties that many clients have faced.

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