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Beijing Film Market Signs 8.731 Bln Deals

2013-04-27 07:20:50        Chinese Films

The 3rd Beijing International Film Festival closed Tuesday while the deals were signed during the festival worth 8.731 billion yuan.

On the afternoon of April 22, a contract signing ceremony was held at Beijing's National Convention Center. Inked deals include: Chinese Business Cooperation Memorandum, Chinese Film Industrial Park, Yuan Shangdu Studio, Poly Pictures 2013-2014 cinema projects, Dadi Cinema investments, Hengye Film's 2013 annual financing plans and Beijing International Film and Trade Service Center.

Zhao Ziyong, the deputy director for Beijing Film & TV Bureau, announced that the Beijing Film Market achieved 27 projects valued at 8.731 billion yuan, an increase of 65.58 percent over the previous year, and is the largest amount in the history of the Beijing Film Festival.

Contract volumes for construction projects such as theaters, film and TV bases, and cultural real estate is estimated at 3 billion yuan, 53.85 percent more than last year; film projects contracts a valued at 3.108 billion yuan, 28.38 percent more than last year; and movie investment contracts, financing projects, micro film projects, technology and other projects are valued at 2.623 billion yuan.

More than 800 companies and institutions at home and abroad participated in the Film Market activities. Among the signed deals, 21 are worth of more than 100 million yuan, while Sino-foreign co-production projects enjoyed a 1066.67 percent increase over last year.

Source: china.org.cn

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