Shanghai International Film Festival: Global industry leaders discuss Chinese film industry

World
Europe

02:45

A forum on China's film industry has been held at Shanghai Jiao Tong University. Industry leaders from around the world participated at Monday's event, part of the Shanghai International Film Festival. They discussed China's expanding role in the global film industry and what else needs to be done to move it forward. Xu Mengqi tells us more.

The world's biggest movie production studio, now located in China. It's one way to look at the fast development of the Chinese film industry. And yet another equally compelling indicator is its box office numbers. In the first quarter of this year, China's box office figures trumped North America's. And the phenomenon is drawing attention from global industry leaders.

WILLIAM FENG, VICE PRESIDENT MOTION PICTURE ASSOCIATION ASIA PACIFIC "Film industry is a value chain. We don't just look at the box office itself. We look at the industry value chain that includes many other things, after market. Now a lot of people are engaged in online distribution, there is a growing market in China."

During this year's Shanghai International Film Festival, global industry insiders have gathered to gauge the maturity of the Chinese film industry. And despite an exploding box office, speakers say there still are weak parts within the industry's value chain.

SHERWOOD HU CHINESE DIRECTOR "I think we need to really enhance and do some solid work on the law, the so-called entertainment law, which I think is so important. And second, the film industry management, including how to manage actors and the creative personnels."

Well-developed laws and regulations are part of what China needs for its film industry to grow from being simply big to strong, says Ren Zhonglun, Chairman of the Shanghai Film Group. It also takes a powerful industrial production system, distributors with global reach, and films with global influence.

XU MENGQI SHANGHAI "Most Chinese movies have yet to breakthrough globally, as domestic box office winners do not always do well overseas. Industry experts say the reasons are mostly cultural, but things are changing."

AMY BAKER & KATHERINE WINSTON PRODUCERS OF FILM FINANCE CONFERENCES "I think the world the world is used to consuming movies a certain way, and it's just a matter of time before we all learn to consume Chinese products the way Chinese products are meant to be seen. It's changing though."

And it's not just about importing or exporting films. Filmmakers and distributors from China and abroad are already exploring ways to co-finance and co-produce movies so they can all have a share of China's expanding role in the global film industry. XMQ, CGTN, Shanghai.