Focus on Film Power and Industrial Upgrading—China Film Investment and Financing Summit Held Successfully
On the morning of August 15, the 12th BJIFF China Film Investment and Financing Summit was successfully held in Beijing. The summit is hosted by the BJIFF Organizing Committee, co-hosted by China Film Fund, Beijing Cultural Industry Investment and Financing Association, and organized by Online Film Market Co., Ltd. and Bank of Beijing, the only officially exclusive financial institution partner.
The 12th BJIFF China Film Investment and Financing Summit
Leaders of relevant departments, as well as representatives from many film and television investment institutions, production companies and enterprises have attended the summit such as Wei Xiaoyu, Deputy Secretary of the Party Leadership Group, Vice President and Secretary of the Party Committee of Beijing Radio & Television Station, and Deputy Secretary General of the 12th BJIFF Organizing Committee, Zhang Pimin, Chairman of China Film Fund, Dai Wei, Assistant to the President and Corporate Business Director of Bank of Beijing, Rao Shuguang, President of China Film Critics Association, Zhou Jiandong, Vice Chairman of the China Film Producers’ Association, Huang Qunfei, Executive Vice General Manager of Huaxia Film Distribution Co., Ltd., Jiang Defu, Executive President of Bona Film Group, Liu Hongtao, Chairman of Fun Age Pictures and general producer of Moon Man, Ye Ning, partner of film business of Zhewen Pictures, Li Tingwei, General Manager of Poly Pictures Investment Co., Ltd., Zeng Yingxue, Senior Vice President of Perfect World and Head of Perfect World Pictures, Liu Ruifang, General Manager of Joy Leader Culture Communication Co., Ltd., Fan Zhizhong, Executive Director of Institute of International Film and Television Development, Zhejiang University, and Dean of Huace Film Academy, Communication University of Zhejiang, Song Weicai, professor in the School of Art and Communication, Beijing Normal University, Zhu Yuqing, Director of the Film Investment and Financing Development Fund, China Film Fund, Founder of Online Film Market Co., Ltd.
Wei Xiaoyu, Deputy Secretary of the Party Leadership Group, Vice President and Secretary of the Party Committee of Beijing Radio & Television Station, and Deputy Secretary General of the 12th BJIFF Organizing Committee
As Wei Xiaoyu said in her speech, the China Film Administration and Beijing Municipal Film Administration have successively issued The 14th Five-Year Plan for the Development of Chinese Films and The 14th Five-Year Plan for the Film Development in Beijing since 2021 to put forward the schedule of film development in China and Beijing with the emphasis on improving and implementing supporting policies in the field of finance, taxation and preferential in the film industry. China Film Investment and Financing Summit has been successfully held for several sessions, and it has played an important role in promoting the integration of film and finance and boosting the healthy development of Chinese film industry. The summit serves as a specific measure to implement the new idea of integrating cultural and financial innovation in Beijing.
Zhang Pimin, Chairman of China Film Fund
As Zhang Pimin stressed in his speech, the building of a film power is an important part of a cultural power and the important guarantee for the sustainable and high-quality development of Chinese films. With the joint efforts of state film authority and all filmmakers, some excellent works such as The Battle At Lake Changjin II, Lighting Up The Stars and Moon Man have been produced this year. Under the major strategy of building a culture power, Chinese films are doomed to have a bright future as long as high-quality films are produced and the audiences are still there! The high-quality films cannot be produced without the strong support of financial and investment companies. The collaboration between high-quality films and professional financial capitals should be indispensable with the joint efforts of all the colleagues in the industry!
Dai Wei, Assistant to the President and Corporate Business Director of Bank of Beijing
As Dai Wei said in his speech, the filmmakers focus on the goal of building a film power and create many high-quality films with the guidance of the leaders of film authorities at all levels. Chinese films now facing new challenges and opportunities in the new journey need in-depth empowerment by the financial institutions. Since the establishment, Bank of Beijing has always focused on the pulse of capital city to promote the deep integration between the film industry and the finance through top strategic planning, featured product supply and efficient cross-border cooperation. Up to now, Bank of Beijing has issued loans of more than 26 billion yuan to over 1,000 film companies, witnessing the growth of high-potential film and television customers.
Focus on the establishment of a film power
At the forum themed with "Film Investment and Financing & Construction of Film Power”, Zhu Yuqing, the guest moderator, conducted an in-depth discussion with Rao Shuguang, Jiang Defu, Li Tingwei, Zeng Yingxue, Ye Ning and other experts, directors of film and television companies and investment companies on how the film and capital can get integrated under the goal of building a film power.
The forum themed with “Film Investment and Financing & Construction of Film Power”
As Rao Shuguang has pointed out, Chinese films especially need the support of financial capitals when facing the special moment. To promote the high-quality development of Chinese films and realize the construction of a film power, we should produce more high-quality works based on not only financial supports but also the filmmakers’ efforts to enhance artistic creativity and imagination; however, most importantly, it’s vital to find correct methodology! The methodology never falls from the sky by itself. It’s accumulated bit by bit with the hard thinking and continuous attempts by filmmakers, so it’s necessary for the filmmakers and the top financial institutions to make joint efforts.
Rao Shuguang, President of China Film Critics Association
Jiang Defu expressed his appreciation to various departments and financial institutions at national and municipal level for their continuous support to Bona Film Group. As he has said in his speech, literary and artistic creation must have a direction. Bona Film Group has always insisted on film production in the context of socialism with Chinese characteristics to meet the needs of creation and the masses; the products should have both the main theme and the commercialization; both the grand vision and the micro perspective. The great banner we should hold high under the goal of building a film power is to create for the people, express for the people and make biography for the era. In addition, he also said that Bona Film Group was about to embark the capital market, which was precisely the recognition of capital market on the high-quality films.
Jiang Defu, Executive President of Bona Film Group
Li Tingwei described the relationship between investment and financing and the film industry as that of water and boat. He pointed out that the typical head effect, cluster effect and aggregation effect existed in the film investment and financing field at present. As he has said at the summit, the investment projects are becoming more concentrated, investors are more focusing on the teams, and investment distribution is getting increasingly characteristic. To achieve further development, we need the joint efforts of all filmmakers from all perspectives. Poly Pictures will focus on the goal of “a film power” with continuous efforts in terms of film technology, and help with the dream of a film power through the integrated development of "content + technology”.
Li Tingwei, General Manager of Poly Pictures Investment Co., Ltd.
Based on the development of Perfect World, Zeng Yingxue pointed out that high-quality content was always the rigid demand of the masses. All the difficulties would never last forever and all filmmakers should persist on with their great passion. As she has said at the forum, Perfect World has always been actively expanding the cross-border cooperation and interaction in the film industry. Perfect World has made some achievements and accumulated some experience in terms of the film-game integration, film and television investment and financing, overseas business and project production. The company hopes to join hands with all the practitioners to inspire and learn from each other on the road to build a film power!
Zeng Yingxue, Senior Vice President of Perfect World and Head of Perfect World Pictures
As Ye Ning has pointed out at the summit, capitals still have great confidence in the film industry, but the biggest problem is the shortage of sustainable and stable business model. What the filmmakers need to do now is tell Chinese stories in a way favored by the audiences. He hoped the film investment and financing would help young filmmakers create excellent Chinese stories in the future because it was actually the best business model.
Ye Ning, partner of film business of Zhewen Pictures
As Zhu Yuqing has summarized in the end, high-quality content and funds are complementary with each other. It’s the inevitable road for the future film development and the important support for the building of a film power to integrate films, finance and capitals into an engine to drive industrial development and promotes industrial prosperity. He hoped to witness the realization of a film power in 2035.
Discussion on industrial upgrading
At the forum themed with “Film Investment and Financing & Film Industrialization”, Fan Zhizhong, the guest moderator, conducted in-depth discussion with some senior film practitioners such as Zhou Jiandong, Liu Hongtao, Liu Ruifang and Huang Qunfei on the topics including the way and direction of upgrading and development in film industry and how to achieve industrial upgrading with more supports.
The forum themed with “Film Investment and Financing & Film Industrialization”
Zhou Jiandong analyzed the development of film industrialization in China. As he has pointed out at the forum, we need to properly deal with the relationship between the main theme and the diversification for the current development of film industry. We should not separate the main theme from the diversification in a narrow sense. The upgrading of film industrialization should depend on a high degree of self-confidence of the creators, a continuous and stable market as well as the preferential policies.
Zhou Jiandong, Vice Chairman of the China Film Producers’ Association
Liu Ruifang said that film was a product of emotions. How to find a way to ease emotions was an important inspiration for film creation. Facing the COVID-19 pandemic, those who chose to stay were the creators worthy of being invested. She hoped to obtain more supports. As she has said at the forum, the core of film commercial model is the brand building. The development of post-box office space and the expansion of a more diversified profit model based on the content serve as the important directions for the film industry development in the future.
Liu Ruifang, General Manager of Joy Leader Culture Communication Co., Ltd.
Liu Hongtao said that the film industry should be distinctive so as to attract audience and investment with differentiated brand positioning. As a small film company with great potentials, Fun Age Pictures adheres to the works featured with comedy and diversified development based on good stories. The film financing now is facing the dilemma of high risk in the early stage and excessive dependence on the box office in the later stage. We should find the solutions in time now. He hoped that a brand fund focusing on content investment would appear in the future so as to provide more support for the “non-blockbuster or non-leading" projects.
Liu Hongtao, Chairman of Fun Age Pictures and General Producer of Moon Man
Based on the analysis from the perspective of market, Huang Qunfei pointed out the current difficulties faced by Chinese films. Fortunately, the foundation of films as well as the film fans are still there. However, we still need more supports from the capitals focusing more on the content, especially the medium and small films apart from the leading ones. To achieve the benefits for the film market, we need to focus on at least two most important aspects: on the one hand, it is necessary to encourage the industrialization of films from the perspective of policies, respect the laws, the audience and the market; on the other hand, the film industry should have strict self-discipline so that capitals see the certainty with more confidence on the film industry.
Huang Qunfei, Executive Vice General Manager of Huaxia Film Distribution Co., Ltd.
Fan Zhizhong finally concluded that the film industry would inevitably suffer from pains during the period of industrial adjustment. However, from a global perspective, since the film fans are still there, the support of capital market is still there and the creators with a strong sense of quality are still there, the industrial development will surely have sufficient momentum and all the filmmakers should work with joint efforts to welcome the next period of profit.
Fan Zhizhong, Executive Director of Institute of International Film and Television Development, Zhejiang University, Dean of Huace Film Academy, Communication University of Zhejiang,
Release ceremony of authoritative report
As the highlight at this forum, Beijing Film Investment and Financing Development Report was grandly released at the summit. The report was finally compiled based on the onsite surveys on dozens of financial and investment institutions in the past year.
It is said that the report aims to find out the current situation of film and television enterprises and financial institutions in Beijing, elaborate the financial cooperation between film and television industry and financial institutions, summarize the experience of integrating film and television with finance in Beijing, strengthen the leading role of capital city in the film industry as well as film investment and financing, and further highlight the Benchmarking role of Beijing as the national cultural center.
Zhu Yuqing, Director of the Film Investment and Financing Development Fund, China Film Fund, Founder of Online Film Market Co., Ltd.
Zhu Yuqing, the editor-in-chief, interpreted the report on behalf of the editorial board. He pointed out five major trends in film and television investment and financing in Beijing: the market is gradually recovering and the status of Beijing as the film and television center has been stabilized; the amount of financing keeps increasing and the concept of film and television is gradually extended; small and micro enterprises become the main target of financing and strategic financing becomes the major way; investment institutions are still hesitant and industrial capital takes the initiative to conduct investment; film and television financing is shifted to financial institutions and there is still space for improvement in Beijing.
Beijing Film Investment and Financing Development Report to be released
China Film Investment and Financing Development Report 2022 to be started
The participating guests including Wei Xiaoyu, Zhang Pimin, Dai Wei and Song Weicai attended the launching ceremony of the report. Meanwhile, the compilation of China Film Investment and Financing Development Report 2022 was also started on the site to continuously focus on the latest developments and trends in the field of film investment and financing, and provide intellectual support and contribution of academic community for the development of film industry.