Only in its fourth year, the Beijing International Film Festival has become an influential event not only culturally, but also commercially. The trade volume at this year’s event has reached more than 10 billion yuan, or 160 million US dollars, breaking the record among all Chinese film festivals in history.

Thirty-two contracts have been signed during this year’s festival, covering film planning, production, releasing, financing and advertising. And for the first time, the number of foreign companies in attendance has surpassed domestic companies.

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Thirty-two contracts have been signed during this year’s Beijing Int’l Film Festival. The trade volume breaks all record in China’s film history.

“The total trade volume is 10.5 billion, a 20 percent increase from last year. Part of it has been achieved through film projects, and some through the construction of film chains and film bases. Others are film funds,” said Chen Caiyun, director of project coordination for BJIFF.

2.5 billion yuan in film-funding contracts have been signed. Dozens of film funds are here seeking investment opportunities. And for the first time the festival is holding a trade platform for “Venture Capital” and film projects by young directors. Four out of 12 such projects have already won, and each will receive initial funding of 200,000 yuan.

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Another platform debuting at the festival is for the exchange of hi-tech film technology. And many companies have come to show their most advanced products to industry insiders.

“There has rarely been such an array of big hi-tech companies at one event,” said Liu Debin of Poly Film Investment.

A total of 724 companies and organizations from 24 countries have attended trade fairs at the film festival.

The number of movie screens in China has reached over 20,000 this year. A decade ago, it was only a couple of thousands. Total box office revenue was 3.6 billion US dollars last year, only second to America.

Such skyrocketing numbers are the main factors attracting top film companies, and investment, to China. And clearly, the Beijing International Film Festival is the place for them to be.

Source: https://english.cntv.cn/2014/04/21/VIDE1398010920397468.shtml

 

Note from Oliver: FTA is proud to be associated with the BJFF and in assisting them in bringing Jean Reno, Caterina Murino and Pierre Bismuth to  the Beijing International Film Festival 2014

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