Second Beijing Film Market ends with 5b yuan contracts

Updated: 2012-04-27 16:06

By Huang Ying (chinadaily.com.cn)

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The second Beijing Film Market wrapped on Thursday with the signing of film-related contracts worth 5.27 billion yuan ($837.9 million), an increase 88.7 percent over last year.

The contracts covered the entire film industry sector, from filming movie projects, construction of theaters and film studios, to financing guarantees for film projects.

The companies involved included Beijing Hairun Movie and TV Studio, Beijing Galloping Horse Media Co Ltd and Ilustrato Pictures Ltd, a new Canadian company that will create feature film projects jointly with Chinese partners.

Of 21 project contracts signed, six were for Sino-foreign cooperation projects.

Thirteen of the 21 were worth more than 100 million yuan each, and accounted for 61 percent of the deals made.

According to Li Chunliang, director of Beijing Municipal Bureau of Radio, Film and Television, contracts signed for filming movies came to 2.42 billion yuan and those for construction of cinemas, and special effects studios came to 1.95 billion yuan,

Attendance this year was double that of last year with more than 600 foreign and domestic film company participants.