2012-06-20

Film Market Figures Discuss Challenges to China\'s Cinema Industry

The SIFF\'s Film Market is a Bridge to Buyers, Producers and Distributors from Home and Abroad

Hollywood\'s box office dominance is one of the issues the Chinese film industry and market figures are considering at the 15th SIFF\'s film market.

"We want to be a bridge to buyers, producers and distributors from both home and abroad," said Shen Yang, a SIFF marketing official. "It will make the Chinese film market more diversified and healthy."

In 2011, China\'s box office jumped almost 30 percent to 13.1 billion yuan (US$2.1 billion), making it the world\'s third-biggest country by box office. More than 800 new cinemas with 3,000 screens opened last year.

But the domestic film market development also faced challenges, such as the dominance of Hollywood blockbusters, a lack of international awareness for Chinese firms, and insufficient opportunities for film trading platforms, according to research firm Entgroup.

In 2011, China produced 791 films, but only 51 received awards internationally. Some 23 organizations distributed 52 films overseas, generating revenue of 2 billion yuan - a 43 percent decrease on 2010.

China urgently needs a film trade platform to bring together producers with limited budgets and buyers and distributors with capital, analysts say.However, SIFF organizers say that since the festival began in the 1990s it has helped establish such a platform.
"What we called a trade market in the first SIFF was just a room and several chairs," Shen recalled.

SIFF - China\'s only film market - had 143 domestic and overseas exhibitors in 2011\'s trading session. This attracted more than 2,000 buyers from all over the world, resulting in around 700 deals being signed.For 2012, the SIFF film market has attracted more than 400 exhibiting companies, evenly split between domestic and foreign exhibitors.

Chinese artists and investors have also found opportunities during SIFF. Among them is actress Qin Hailu, who invested and acted in The Piano in a Factory, the story of a father laid off from a steel factory and desperately trying to get a piano for his daughter. The film received many awards at SIFF 2011 and was a commercial success.