Bona Film has produced several of China's highest-grossing films in 2019, including The Captain and The Bravest. But Yu says it would be a big challenge for the company to "rescue itself" in this special period.

He says he hopes the top film authority will consider exempting all Chinese films from the 5 percent levy for three years.

Song Ge, chairman of Beijing Culture, which is known for runaway hits like Wolf Warrior 2 and The Wandering Earth, says he hopes film companies receive tax relief this year.

He also reveals the company's four upcoming movies, including the first installment of director Wuershan's fantasy Fengshen trilogy and Lu Chuan's adventure film, Bureau 749, are preparing for theatrical release and could be ready when cinemas reopen.