SCED welcomes joint venture of Chinese and American film and entertainment giants headquartered in Hong Kong for film projects
The Secretary for Commerce and Economic Development, Mr Gregory So, today (March 16) welcomed the setting up of a joint venture between Warner Bros Entertainment Inc, China Media Capital and Television Broadcasts Limited to develop and produce films for distribution around the world.
Mr So attended the inaugural press conference of the joint venture this morning. He said, "The venture chose to set up its headquarters in Hong Kong, highlighting the international flavour of the creative industries of Hong Kong. It is also a vote of confidence by investors in the long-term development of the city."
Mr So noted that the local film industry has in recent years actively participated in the development of the Mainland film market, and has established an extensive network of business connections. It has accumulated extensive experience in international marketing and distribution as well as market development over the years.
In recent years, most of the Hong Kong-Mainland co-produced films and some Mainland films have been sold to overseas distributors through Hong Kong companies.
"These advantages will facilitate the development of Hong Kong into a bridgehead for tapping the global film market and enable Hong Kong to play its role as a 'super-connector' between the Mainland and the rest of the world," he said.
Mr So said he hoped that this exciting venture will open up new opportunities for the film production talents in Hong Kong and promote further development of local creative industries.
Ends/Wednesday, March 16, 2016