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As we mentioned last week, we were honored to be a media sponsor for a panel discussion held during HK Filmart by the China Daily titled - "the China Daily Asia Leadership Roundtable".
Here's some highlights of the event as well as their press coverage of the event:
Last but not least, here's the official press release:
Asian Film Pundits Applaud International Growth Brought by China Film Industry's Globalization
MAR 16, 2016, Hong Kong - More than 200 delegates from movie industries around the world attended the China Daily Asia Leadership Roundtable Panel on “International Opportunities Brought by China Film Industry’s Globalization” from 10.00AM to 12.00PM at FILMART. We were delighted to work with the Hong Kong Trade Development Council again as Media Partner for FILMART 2016 for the fourth consecutive year.
China’s film industry grossed more than 40 billion RMB in 2015, for the first time with over 60 percent coming from domestic production. The 2016 Chinese New Year witnessed phenomenal increases in 287 million RMB box office takings. China’s box office is expected to reach 100 billion RMB in 2020, surpassing North America to become the world’s largest film market.
The rapid globalization of China’s film industry has recently led to strategic deals with the world’s largest film markets including Hollywood, the UK, India, Japan and Korea on content, intellectual property, talent, capital, technology and distribution channels.
The interactive session was divided into three sub-sessions, each of which contributed to the Global Perspective, Film Perspective and Film industry Perspective on International Growth Brought by China Film Industry's Globalization.
Mr. Zhou Li, Editorial Board Member of China Daily Group of Publisher & Editor-in-Chief of China Daily Asia Pacific welcomed the distinguished speakers from across Asia including Dr. Wilfred WONG Ying-wai, GBS, JP, Chairman of Hong Kong International Film Festival Society, Chairman of Asian Film Awards Academy & Deputy Chairman of Hong Kong Film Development Council; Mr. Michael C. ELLIS, President & Managing Director of Asia-Pacific Region Motion Picture Association; Mr. Keun-tae PARK, CEO & President of CJ Korea Express and CJ Group China Headquarters and Dr. MA Runsheng, former President of China Radio, Film and Television Program Exchange Center, Vice President of China Television Drama Production Industry Association. All experts discussed the topic from a global perspective.
WONG suggested two ideas to take away: As the Chinese cinema grows, and the audiences develop, they will be looking for more diversity. There will be opportunities for co-production not only in big-budget multi-starrer films, but in drama, comedy and all kinds of lower budget films. PARK echoed that audiences in China have become younger, so there is need for diversity in movies, and finding content suitable for local culture. ELLIS went a step ahead and predicted Chinese box-office takings will overtake the US by 2017. MA tapped on the topic by a counter-question, "If you look at the top 9 box-office winners, 80 percent of these have some international element and high-quality production standards. While Chinese films should be about Chinese culture, without high technical standards, can we be truly international?"
In addition, Ms. Amy LIU, Member of Organizing Committee Office of the Beijing International Film Festival, Co-Founder & Senior Vice President of EntGroup; Ms. Jeane HUANG, Former Director of the Taipei Film Festival, Jury of 9th Asian Film Awards, Jury of 28th Tokyo International Film Festival and Mr. Kriengsak Victor SILAKONG, Festival Director of World Film Festival of Bangkok, shared their views from the film festival angle.
LIU mentioned that Chinese film industry is growing rapidly as its box office reached 6.87 billion yuan, up by 67.19 percent over the same period last year. HUANG agreed that China’s box office takings continue to multiply irreversibly, yet the challenge in front of China’s film industry is to leverage the obvious advantages that money can buy and use these to improve the general standard of the fare on offer. Despite a positive outlook on the Chinese film market, SILAKONG pointed out that the popularity of Chinese films is on a downward slide in Thailand.
Five panelists from the Chinese Mainland and Hong Kong SAR, Mr. LI Yansong, President of iQIYI Motion Pictures and Vice President of iQIYI.com, Inc; Mr. HAO Bin, Executive Director and Chairman of the Board, SMI Culture Group Holdings Ltd.; Mr. Cary CHENG, Deputy General Manager of Wanda Media Co., Ltd; Mr. CT YIP, Executive Director of Media Asia Group Holdings Limited, CEO of Lai Sun Group and Mr. Bin CHEN, Senior Vice President of DMG YinJi Film, Television, Entertainment & Media Company Limited, further discussed the challenges and opportunities from their respective perspectives.
LI is positive about the Chinese film market; he said that last year we were discussing the future of Chinese films in the context of Asia, this year we are looking at global possibilities. Yet, this indeed is a marker of fast-paced growth. YIP summarized that China’s box-office success is certainly a phenomenon worth celebrating. CHENG highlighted that the obstacles for co-productions is difficult to overcome as it is not only the integration of the capital, but it also involves finding subjects that cater to audiences from both sides. In contrast, CHEN stressed that, “As long as we have a shared value of humanity and want to entertain people, we could work with people, irrespective of their color, culture and ethnicity.” HAO said, “We work with a huge population of consumers, filmmakers, writers — people who generate content — and win status for the Chinese film industry from around the world.”
(From Left to Right) Mr. Zhou Li, Editorial Board Member of China Daily Group of Publisher & Editor-in-Chief of China Daily Asia Pacific; Mr. Bin CHEN, Senior Vice President of DMG YinJi Film, Television, Entertainment & Media Company Limited; Mr. Cary CHENG, Deputy General Manager of Wanda Media Co., Ltd; Mr. LI Yansong, President of iQIYI Motion Pictures and Vice President of iQIYI.com, Inc; Ms. Jeane HUANG, Former Director of the Taipei Film Festival, Jury of 9th Asian Film Awards, Jury of 28th Tokyo International Film Festival; Mr. Keun-tae PARK, CEO & President of CJ Korea Express and CJ Group China Headquarters; Dr. Wilfred WONG Ying-wai, GBS, JP, Chairman of Hong Kong International Film Festival Society, Chairman of Asian Film Awards Academy & Deputy Chairman of Hong Kong Film Development Council; Mr. Alexander WAN, Senior Advisor of China Daily Asia Pacific; Mr. Michael C. ELLIS, President & Managing Director of Asia-Pacific Region Motion Picture Association; Dr. MA Runsheng, former President of China Radio, Film and Television Program Exchange Center, Vice President of China Television Drama Production Industry Association; Ms. Amy LIU, Member of Organizing Committee Office of the Beijing International Film Festival, Co-Founder & Senior Vice President of EntGroup; Mr. Kriengsak Victor SILAKONG, Festival Director of World Film Festival of Bangkok and Mr. HAO Bin, Executive Director and Chairman of the Board, SMI Culture Group Holdings Ltd.
More than 200 delegates from movie industries around the world attended the China Daily Asia Leadership Roundtable Panel on “International Opportunities Brought by China Film Industry’s Globalization”
About China Daily Asia Leadership Roundtable
The China Daily Asia Leadership Roundtable is a by-invitation network of movers and shakers in Asia providing platforms for focused dialogue, issue investigation, and possible collective action on strategic issues relating to economic, business and social development in Asia. Our aim is to enhance communication and increase mutual understanding between China, Asian and Western countries. Roundtable events are held in major cities across Asia
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