Honlywood at Hong Kong?

[PennysBayChronicle]

According to various Locals news, the head of Hong Kong Government, that is the Chief Executive of Hong Kong is going to announce tomorrow, during his Policy Address that he is going to help Hong Kong Film Industry with some solid proposals.

HONLYWOOD (Hong Kong version of Hollywood)? since the latest Hollywood movie "Departed" was adapted from Hong Kong Movie "Internal Affairs".

Honlywood Studio at Hong Kong ? Plus Hong Kong Disneyland...

[Loomis]

Re: Honlywood at Hong Kong?

I was always under the impression that the Hong Kong film industry was one of two in the world, along with Bollywood, that could hold its own against Hollywood in the internal market.

At any rate, as a long-time fan of Hong Kong cinema, and anything being done to promote the local industry is a move applauded by me.

I'm sure the Hong Kong film industry will be pleased to know that I approve.

[PennysBayChronicle]

Re: Honlywood at Hong Kong?

Film Development Council to be formed

On location: The Film Development Council will be formed to boost Hong Kong's movie industry.
Hong Kong will form the Film Development Council to bolster the city's internationally renowned movie industry.

Chief Executive Donald Tsang said in his Policy Address today the Secretary for Commerce, Industry & Technology will co-ordinate policy, planning and activities, including manpower training, Mainland and overseas promotion, and filming support, in this regard. He will be backed by members of the film industry in this goal.

"Our film industry is one of our most important creative industries and enjoys a high reputation regionally and internationally. CEPA has opened up new opportunities for our film industry to tap into that huge market and to capitalise on the resources of the Mainland. With appropriate assistance from the Government, the industry is poised to scale new heights," Mr Tsang said.

"The Film Development Committee has commissioned a study which proposes the Government help resolve some of the problems faced by the film industry, especially budding or small and medium sized film makers. The Government will seriously consider the proposals."

Source: HK Gov News

[PennysBayChronicle]

Re: Honlywood at Hong Kong?

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Source: Digital Entertainment World 2006

[PennysBayChronicle]

Re: Honlywood at Hong Kong?

CEPA III: Opportunities for Hong Kong Content provided by:

Summary

• Tariff-free access to the mainland market of all Hong Kong products
  
  
• WTO-plus market access of Hong Kong services providers
  
  
• Four new business areas opened to Hong Kong residents' individually owned stores

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In sectors like audiovisual, transport and distribution, the concessions go beyond China's WTO commitments. For instance, Hong Kong companies can operate wholly-owned units to renovate and build cinemas at multiple locations for screening business across the country, while other foreign companies are allowed to form minority-owned joint ventures, and up to 75% ownership of joint ventures in seven pilot cities. On the other hand, the mainland will allow qualified mainland securities and futures companies to set up subsidiaries in Hong Kong, an area where there is no similar commitment under China's WTO accession protocol.

The WTO-plus liberalisation measures are expected to give Hong Kong firms, especially SMEs, a head start. In the meantime, the mainland's move to allow its securities and futures companies to establish in Hong Kong should help broaden the intermediary base of Hong Kong, enhancing Hong Kong's role as a regional financial centre.
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For Hong Kong-mainland co-produced films, existing CEPA provisions lift the restrictions on the ratio of principal creative personnel from Hong Kong and only require one-third of the leading artists to be from the mainland. Besides, the film story of these co-productions is no longer required to take place in China. Building on these relaxation measures, CEPA III further allows the Cantonese versions of Hong Kong-mainland co-productions to be distributed and screened in Guangdong Province.

Similarly, the Cantonese-version of Hong Kong-produced films solely imported by the Film Import and Export Corporation of the China Film Group Corporation can be distributed and screened in Guangdong Province. In addition, CEPA III further lowers the copyright ownership of Hong Kong-produced Chinese-language films for quota-free importation to the mainland from more than 75% under CEPA II to just more than 50%.

China is a multi-ethnic country with many people speaking different dialects aside from Putonghua. Allowing Hong Kong-mainland co-produced films to be dubbed in Cantonese for distribution within Guangdong Province under CEPA III will help retain the original flavour of such films, offer greater choices to Guangdong audiences and facilitate a greater market penetration. This is also true for the Cantonese versions of films produced by Hong Kong companies and solely imported by the China Film Group.

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Source: Trade Development Council of Hong Kong

[PennysBayChronicle]

Re: Honlywood at Hong Kong?

CEPA extended to HK film industry

The new supplement to the Closer Economic Partnership Arrangement, commonly known as CEPA III, will be extended to Hong Kong's film sector, said industry players and analysts.

Signed between the Chinese mainland and Hong Kong late last month, CEPA III will exempt Hong Kong-made Chinese-language movies from the import quota regime that is imposed on foreign movies. Under the World Trade Organization commitments, the mainland agreed to import no less than 20 foreign movies annually.

Additionally, an agreement, effective from January 1, will allow Hong Kong service providers to set up wholly-owned subsidiaries to construct, renovate and operate more than one cinema in different places on the mainland.

Golden Harvest, one of the biggest film distributors and cinema operators in Hong Kong, has moved its production sector to Shanghai to take advantage of CEPA.

"This will help us better expand our distribution and presence," said Alvina, a spokeswoman for Golden Harvest.

Lai Wai-shing, associate director from Hantec Investment Holdings, said that the agreement will enormously stimulate the city's otherwise shrinking film market by expanding distribution on the mainland.

"Hong Kong only has 7 million people. The market is quite limited," he said. "But the mainland offers a perfect marketplace for Hong Kong film firms. It has a 1.3 billion population and many of its youths are fans of Hong Kong movies and stars."

"Indeed, distribution and exposure to the market are of vital importance for film producers. Thanks to the agreement, Hong Kong filmmakers will embrace a larger distribution and exposure across the border," said Lai.

Also, the deregulations offer wider opportunities for Hong Kong film makers to hire mainland professionals. That is of particular importance as Hong Kong now faces a talent shortage since the industry reached its peak back in the 1990s, Lai said.

Under the CEPA III, a movie will still be regarded as "made in Hong Kong", so long as Hongkongers account for more than 50 per cent of the principal personnel in producing the movie.

"The mainland is abundant with film-making professionals and film colleges, whereas Hong Kong has a much smaller pool of actors, directors and other movie-related personnels," said Andes Cheng, associate director from South China Research Ltd.

That will help reduce costs as mainlanders usually ask for lower remuneration and therefore improved variety as critics have long been complaining there are few new faces on the screen, Cheng added.

However, analysts warned that local firms must have clear knowledge that all audiovisual services imported to the mainland must obtain the approval of the relevant authorities.

"Hong Kong pop singers and movie stars as well as film makers, should adjust to meet the local authorities' policy, this would be a wise move, and applies to markets all over the world," said Lai from Hantec Investment Holdings.

Source: People's Daily News

[TDLFAN]

Re: Honlywood at Hong Kong?

Oh dear God, not another studio theme park for HKDLR... please God??