A bright future for China's booming film industry
(Source: CGTN)
A global cast of industry players have gathered in Hong Kong this week for FILMART, the Hong Kong International Film and TV conference. The future of China's film industry was the focus at many of the conference's events. Mao Dan spoke to insiders about the importance of good content for creating great films.
It's being called the leading entertainment market in Asia. This is the 21st annual Hong Kong FILMART. This year, more than 800 exhibitors from over 30 countries and regions are taking part. And there's a growing number of companies from Chinese mainland provinces and cities that have emerged in recent years from the country's film industry boom.
"The industry is growing very rapidly, in particular the Chinese mainland market. We see a big number of Chinese companies participating, this year we have 223 Chinese companies participating. We are also supported by many provincial and city governments, including those from Shanghai, Ningbo, Guangdong and Fujian, and Shandong as well," Stephen Liang, FILMART organizer with Hong Kong Trade Development Council, said.
China's film industry has enjoyed remarkable growth over the past few years. However, 2016 box office figures indicated a growth of merely 3.7% - the slowest in a decade and a massive drop when compared to the previous year's numbers - a whopping 49%. Some say the market may have entered a so-called critical stage of "survival of the strongest" while others believe it's a healthy adjustment for the market to value quality and content, amid a surge in quantity.
"I think the growth over the past few years has been more in structure and scale, and less in quality. But the market needs high-quality products. I believe in the coming years, there will be changes and better content creation," Chen Hui, CEO of Jujian Hengye Pictures, said.
Investors are on the lookout for promising scripts at FILMART. The Asia Film Financing Forum is being held on the sidelines to link investors and filmmakers.
With the booming of Asian film market, it's easier to sell scripts now, because the demand for content is growing and diversifying. Audiences always want novelty. Film creators should keep innovating," Screenwriter/film producer Sobel Chan said.
Despite box-office swings, the money keeps coming. As the Chinese film frenzy continues, writers will continue to be in demand. And it's professional talent and quality products that will keep China's movie dreams alive.