Creating captivating stories and compelling characters regardless of budget will entice audiences pack to theaters and grow a mature film market – these are the sentiments of a panel on Sunday at the Shanghai Film Festival underway in China.

Unpacking issues around the development of small and medium-budget films, the panel of industry insiders spoke at the release of the "The Research Report on Chinese Film Industry" and the "The Report on Chinese Film Art," sharing their experiences and insights.

Yin Hong, Vice President of the China Film Association and professor at Tsinghua University, emphasized that small and medium-budget films should strive for excellence in their form, subject matter, narrative approach, and performances. Yin stressed the need for creators to pay special attention to achieving excellence in their work.

During the panel discussion, Du Qingchun, associate professor at the Beijing Film Academy, said there is a need to further support the penetration of small and medium-budget films into the market. He said these films add diversity to what is on offer. Du emphasized that cost should not be equated with genres as it could impede creativity and hinder the growth of such films.

In recent years, producer Liang Jing and director Guan Hu have provided support to several, exceptional low-budget films created by emerging talents. Liang said emerging filmmakers faced significant market pressure and thus she and Guan have had to actively explore various approaches to assisting them in entering the market.

"First, we focused on nurturing directors' skills, enabling self-expression and recognition, and gradually aligning their work with market demands," Liang shared.

Despite industry support, cost remains a major concern for many first-time directors during the filmmaking process. Xu Zheng, a veteran director and actor, stressed that talented directors would always find ways to surprise audiences, even within limited budgets. Xu said it was important to showcase talent and complete projects even under limited conditions.

Li Fei, a director, screenwriter, and actor, who has collaborated with industry veterans, including Jiang Wen, Ge You, and Fan Wei, has been exploring the creation of small and medium-budget films.

Li suggested that when faced with limited funding, creators should invest in other aspects such as time, contemplation, and learning. By dedicating effort in these areas, better results could be achieved. Li also encouraged young actors to fearlessly collaborate with industry veterans, emphasizing that sincerity was sufficient. Creative differences and controversies, he believed, could be resolved through discussions, leading to the best solutions.