China’sIMAX to bul­let ex­pand trains China reach the­aters5 bil­lion to trips 360

China Daily (USA) - - BUSINESS - By By XINHUAZHAO YANRONG zhaoy­an­rong@chi­nadaily.

There have been more than 5 bil­lion pas­sen­ger trips on China’s IMAX world-renownedCor­po­ra­tion bul­let and trains IMAX in Chi­naeight years, Hold­ing ac­cord­ing Inc to an­nounced­new data fromthe largest­the na­tional ever rail deal op­er­a­tor.for IMAX Since the­ater­sits de­but onin 2008, Tues­day. China’s Un­der high-speed­its terms, rail­way the com­pa­ny­has see­nis an set av­er­ageto build an­nual an ad­di­tion­al­growth of 150 over IMAX 30 the­atersper­cent in with pas­sen­gerWanda Cine­ma­trips, the Line China Co Rail­wayLtd in the Cor­po­ra­tionnext six years. said on Thurs­day,The deal the is day ex­pectedafter China to an­nounced ex­pandWanda plans Cinema’sto dou­ble foot­print­its length of HSR IMAX by 2025. the­aters by moreIn 2015 than alone,70 per­cent,over 1.1 from­bil­lion 160 trip­sto 360, were with made the on ma­jor­i­ty­bul­let trains open­ing in China,over the rep­re­sent­ingnext three more years and than the 45 full per­cent roll­out of to the be coun­try’s con­cluded to­talby 2022. rail­way pas­sen­ger “This de­liv­ery.is a land­mark devel­op­ment For a na­tionin IMAX’sas large his­to­ryand pop­u­lou­sand a strate­gi­cas China, linch­pinthe HSRin ouris charged­growth strat­egy,with over­com­ing par­tic­u­lar­lythe “bot­tle­neck”as we’ve seen in over the time devel­op­ment that sign­ing­sof the lead rail­way,to higher which boxis vi­tal of­fice for and mass ul­ti­mately trans­porta­tion, more said rev­enue,” trans­porta­tion­said Richard ex­pertL. Gel­fond,Gu Zhongyuan.CEO of IMAX.

Some“It not 4,200only strength­ens­bul­let trains our op­er­ate mar­ket-leadin­gon the HSR po­si­tion­ev­ery day, in fa­cil­i­tat­ingChina, the over world’s4 mil­lion fastest­grow­ing­pas­sen­ger trips, film ac­cord­ing­mar­ket, but to al­soan em­ployee re­in­forces with our the strong of­fi­cial work­ing­train tick­et­ing re­la­tion­ship web­site with­Wanda 12306.com. Cinema, One oneof of the our count­less­most im­por­tant­peo­ple to busi­ness ben­e­fit is part­ners,Wang Liya, and speaks of the value Wanda Cinema places on the IMAX busi­ness,” he added.

In the first half of 2016, serves a pas­sen­ger. China’s high-speed rail­way has seen an av­er­age an­nual IMAX growth China of re­porte­dover 30 per­centrev­enue in pas­sen­ger trips since 2008. of $55.1 mil­lion in China, up from $43.9 mil­lion in the a same mother pe­ri­odof twoof the who last lives year. in Guiyang,Gross profit south­west­was $33.9 China’s mil­lion, Guizhouor 62 prov­ince, per­cent whichof rev­enue.used to Net be a profit 21-hour for train the trip pe­ri­o­d­away from in­creased her to hus­band$17.7 mil­lion.and the chil­dren’sWith the fa­ther’sdeal, IMAX’s work­place to­tal of num­ber Guangzhouof the­aterin south sign­ingsChina’s Guang­dong­has reached prov­ince.284 so far this year, “It’s in­clud­ing­now much 229 morein China,con­ve­nient eclips­ing to the visit com­pany’stheir dad,” pre­vi­ous­said Wang an­nu­alof a high-speed­global record train of

A high-speed train at­ten­dant

ser­vice launched in late 2014 277. that Chi­na­cut the gen­er­atesjour­ney down about toa thir­donly fourof IMAX’s hours, global en­abling box-of­fice far more sales. fre­quent fam­ily re­unions.

Re­gard­lessThere are manyof the other slow­down rea­sons be­hindin China’sthe stel­lar eco­nomic growth growth,in pas­sen­ger IMAX trips still be­sidessees fast the growth­speed, in­cludin­gin the Chi­nese ac­ces­si­bil­ity,mar­ket safety and and has punc­tu­al­ity,great con­fi­denceall of in whichits fu­ture­have en­abled prospects.the CRC to find “I more think and there more is cus­tom­ersa strong world­wide. ap­petite China’s among 19,000 Chi­ne­sekm of high­speed­con­sumers, track par­tic­u­larly rep­re­sents for 60 high­end per­cent en­ter­tain­ment.of the world’s to­tal. IMAX It is is an part af­ford­ableof a do­mes­tic luxury. net­work Though of the more econ­o­mythan 120,000is a km lit­tleof track,bit chal­leng­ing,which now con­nect peo­ple al­most might all cut the provin­cialon va­ca­tions, cap­i­tal and citi­es­they migh­tand citi­es­cut back­with overto eat­ing 500,000out at res­i­dents. fancy restau­rants, but IMAX “Chi­nais no­tis the that world’s ex­pen­sive, largest HSR builder and op­er­a­tor, the best all-rounder in tech­ni­cal know-how and the most ex­pe­ri­enced man­ager,” said Sun Zhang, a pro­fes­sor at Shang­hai’s Tongji Univer­sity.

In July, the Na­tional Devel­op­ment and Re­form Com­mis­sion said that China would aim to have 38,000 km of HSR by 2025.

By 2020, one-fifth of the coun­try’s 150,000-km rail­way net­work will be HSR, con­nect­ing over 80 per­cent of ma­jor cities, said the NDRC.

The race to build is be­ing done with no com­pro­mise in terms of safety. China’s rail net­work, on which the world’s largest fleet of bul­let trains op­er­ates, has the world’s best safety record, ac­cord­ing to data com­piled by the In­ter­na­tional Union of Rail­ways and the Euro­pean Rail­way Agency.

Be­sides, Chi­nese high-speed trains score high in punc­tu­al­ity and— 98.8 peo­ple per­cent can for still de­par­turefeel spe­cial,” and 95.4 Gel­fond per­cent added.for ar­rival at the Wanda­fi­nal des­ti­na­tio­nand IMAXin 2015. now op­er­ate “Bul­let un­der trains amore­sus­tain­ableare en­abling the Chi­nese rev­enue-shar­ing­peo­ple to sig­nifi­model that cantly opens ex­pand new their op­por­tu­ni­ti­escir­cle of life to and jointly travel, which re­lease is crit­i­cally chang­ing ac­claimedtheir life­style,” said lo­cal-lan­guageShi Pei­hua, filmsa pro­fes­so­rand shareat Bei­jing­box of­fice Jiao­ton­grev­enue, Univer­sity.the CEO said.

This is a land­mark devel­op­ment in IMAX’s his­tory and a strate­gic linch­pin in our growth strat­egy ...”

QIAO QIMING / FOR CHINA DAILY CFP

Movie­go­ers buy tick­ets at the ticket of­fice of an IMAX theater in Wuhan, Hubei prov­ince.

Richard L. Gel­fond, CEO of IMAX

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.