The 28th China Golden Rooster Film Festival “New Era Of Chinese Film Investment and Development” Forum was successfully held in Xiamen

On the afternoon of November 20, the 28th China Golden Rooster Film Festival “New Era Of Chinese Film Investment and Development” Forum was successfully held at The Tianyuan Hotel in Xiamen. The forum was organized by the Chinese Federation of Literature and Arts, the Chinese Filmmakers Association, the Xiamen Municipal People’s Government, the National Institute of Finance of Tsinghua University, and co-sponsored by Beijing Shangqi Capital Holdings Co., Ltd. and Beijing Qing-controlled Daokou Investment Management Co., Ltd. More than 300 guests and audiences from government departments, well-known enterprises at home and abroad, investment service institutions and film and television companies gathered to discuss in-depth exchanges and discussions on the theme of “Financial Innovation and the Future of Chinese Film”, “The relationship between film and finance development” and “Finance to help the development of the film and television industry”. Vice Chairman of the Chinese Association of Literary Critics, former Vice Chairman of the Chinese Federation of Arts and Culture, Secretary of the Secretariat Xia Chao, Secretary of the Branch of the Chinese Filmmakers Association, Vice Chairman of the Conference Zhang Hong, Vice Chairman of the Chinese Filmmakers Association, La Peikang, Director of the Chinese Filmmakers Association, Director of the Film Education and Industrial Development Committee of the Chinese Filmmakers Association, and former Party Secretary of the Beijing Film Academy, Rao Shuguang, director of the Film and Arts Center of the Chinese Federation of Arts and Culture, and other leading comrades attended the forum.

The 28th China Golden Rooster Blossom Film Festival

“New Era of Chinese Film Investment and Development” Forum

As one of the important activities during the 28th China Golden Rooster Film Festival, the “New Era China Film Investment and Development Forum” focuses on the deep integration of the film industry and the financial industry. At this time when China’s economic and industrial restructuring and global entertainment industry are changing, how to accelerate the historical process of Chinese film industrialization through the integration of film culture, science and technology and financial innovation, and jointly contribute Chinese wisdom to the future development of Chinese films and the sustained prosperity of Chinese films is the key to this forum.

In his speech, La Peikang, Vice Chairman of the Chinese Filmmakers Association, said that after the Chinese film market has experienced the high growth rate of 30% on average over the past 10 years, the market has entered new normal!  Capital has returned to be rational, and high-quality content and realistic themes are constantly emerging. Under the new normal, China’s film industry needs the power of finance.

La Peikang, Vice Chairman of the Chinese Filmmakers Association, at the 28th China Golden Rooster Blossom Film Festival gave his speech at the Forum on “China Film Investment and Development in the New Era”

Xia Chao, Vice Chairman of the Chinese Association of Literary Critics, former Vice Chairman of the Chinese Federation of Arts and Culture and secretary of the Secretariat, said in his speech that in the new era, China’s film finance calls for duties and responsibility, and the film industry needs to take into account economic and social benefits. Under the new era, there give birth of the contents that  is worthy of history, worthy of the predecessors  and belong to the works of this era.

Vice President of the Chinese Association of Literary Critics

Xia Chao, former Vice Chairman and secretary of the Chinese Federation of Arts and Culture, at the 28th China Golden Rooster Blossom Film Festival spoke at the “New Era China Film Investment and Development” forum.

Fan Wenzhong, party Secretary and Chairman of Beijing Financial Holding Group, said in his speech that China’s film industry is now in an important process of transformation and remodeling, and is also in a good time for innovation and development. But at the same time, it is also faced with the challenges of business model being single, lack of fair and transparent evaluation system, capital liquidity and so on. In his view, there are three main ways to solve these problems: first, the content, the way of innovation, second, the production of communication technology innovation, and third, financial services innovation.

Party Secretary of Beijing Financial Holding Group, Chairman Fan Wenzhong at the 28th China Golden Rooster Blossom Film Festival gave keynote speech at the Forum on “China Film Investment and Development in the New Era”

Well-known economist, founder of Rushi Capital, Guan Qingyou, believes that China’s economic growth has created room for the film box office.  China’s current per capita income is 1/5 of Japan’s.  After leveling with the Japanese and South Korean economies, the potential box office has a lot of room for growth. The future is about content, and film content needs to be more cross-border, more vertical, more precise, and sustainable content and IP.

Well-known economist, founder of Rushi Capital , Guan Qingyou is giving a keynote speech.

In addition, Tang Xiaobin, Chairman of Beijing Shangqi Capital Holdings Co., Ltd., Co-Chairman of the Institute of Cultural Science and Research of Tsinghua University National Financial Research Institute, Wang Wenhuai, Deputy General Manager of Xiamen Jianfa Group Co., Ltd., Guo Zewei, Chairman of the Board of Directors of Shangdong Holdings, Huang Qunfei, Vice General Manager of Huaxia Film Distribution Co., Ltd., and Sun Yi, President of The Culture Group Li Jie, Head of Ali Entertainment Film Business, Senior Vice President of Ali Films, President of Ticket Ing, Chairman of the China-UK Film Fund and Chairman of the Chinese-English Creative Group, attended the round-table forum and spoke in the forum.

Chairman of Beijing Shangqi Capital Holdings Co., Ltd.

Tang Xiaobin, Co-Chairman of the Institute of Cultural And Creative Financial Research, National Institute of Finance, Tsinghua University, hosted the 28th China Golden Rooster Blossom Film Festival round table forum of the “New Era of Chinese Film Investment and Development” Forum

As the host, Wang Wenhuai proposed that Xiamen has undertaken a lot of film projects, but have not yet been involved in the core of the industry. From an investment point of view, the film platform deserves attention. The filmmakers have to strengthen integrity, which is conducive to the development of the industry. Guo Zewei said that traditional industry has responded to the call of the state to carry out transformation, into the cultural industry, and expect industry regulators to keep pace with the times. Huang Qunfei mentioned that this year’s National Day film box office has maintained  the 5% growth momentum laying foundation for the whole year. Among them, “Me and My Motherland” is made at the right time and place with the right people, which is not easy to replicate commercially. He also stated that mainstream value films should be the focus of most investors.

The 28th China Golden Rooster Blossom Film Festival round table forum of the “New Era of Chinese Film Investment and Development” Forum

Sun Yiyi, on the creation of industrial film facilities, mentioned that the culture will be in the short term to enhance the team foundation and supporting capacity.  In the long-term, they will do a national layout, through the strategic acquisition and investment of different industrial chain companies. Mr Li says movie users’ movie-watching habits are being challenged in the Internet age. The user-effective entertainment market is growing, and instant entertainment takes up more time. Li Tingwei believes that to create a film “create, share, integrate” model, we must integrate innovation, including content cooperation innovation, financial model innovation.

Participants agreed that the prosperity of the film industry cannot be separated from the financial sector’s strong support. How to use financial instruments benignly and make the current prosperity and development of China’s film market sustainable and normal is a problem that needs to be thought about by the film and financial industry.

Source: Wudaokou School of Finance, Tsinghua University

Cultural Center for Financial Research