Chinese movie giant Huahua Media, known for co-producing films such as Transformers and Star Trek, has signed a multimillion-dollar deal for the remake of 50-year-old war movies from the former Yugoslavia. CGTN's Aljosa Milenkovic has the details.

Sarajevo is now the capital of Bosnia and Herzegovina. But just a few decades ago, it was one of the major cities in a larger country called Yugoslavia. At the time, it was also the hotbed for many World War II movie plots.

"Walter Defends Sarajevo" was one of the most iconic ones.

Its main character Walter, played by Serbian actor Velimir Bata Zivojinovic, gained international fame and became a superstar in China. Even a local Chinese beer was named after him, with his face printed on the label.

"You know who Walter is? Tell me his name, right now!"

"I'll show him to you. Do you see this town? This is Walter."

ALJOSA MILENKOVIC SARAJEVO "In 1971, those lines, spoken in Sarajevo in the former republic of Yugoslavia were widely known to everyone here and also to millions around the world. Now, half a century later, millions are eagerly awaiting the new production, in which a new actor will repeat those famous words."

The Bridge is another iconic Yugoslavian movie that Huahua is investing in its remake project.

Sarajevo Film Center owns the copyright for the movie.

We discussed possible candidates to direct the Bridge remake with the head of the Film Center Sarajevo inside "Walter Defends Sarajevo" museum with original World War Two movie props around him.

JASMIN DURAKOVIC, DIRECTOR FILM CENTER SARAJEVO "Today on the meeting with the Chinese partner, it was the dialogue about that. So, it is really hard question, to make a decision. There are some reason that it could be Chinese director. There is some reason maybe some other international film director, we have that possibility also now."

The original film was sold to many countries around the world at the time. Its remake will be filmed in Serbia.

PREDRAG ANTONIJEVIC, EXECUTIVE PRODUCER DANDELION PRODUCTION "Serbia has very strong tax incentives for the companies which are making movies. It's currently 25%, it might rise up to 30% very soon, that's what I've heard. And that makes us very competitive. For instance, Bosnia doesn't have that. Even if you want to shoot the movie in Bosnia that means that investor will actually lose significant amount of money."

Yet in the age of Star Trek and Transformers, the question is whether and which audience would be interested in the remake of a Yugoslavian WWII movie?

WANG KEFEI, CHAIRMAN AND CEO HUAHUA MEDIA "Foreign war movies are often actually quite popular in China. So if we properly use the new technology and new production methods and we manage to produce a top quality movie, such as 'Saving Private Ryan', we believe that everyone in the world would connect with the movies."

So, Huahua is optimistic about the project and it has dedicated over 10 million US dollars to it. To us movie fans, the only thing left is to wait until late 2021 to see the results of their endeavors. Aljosa Milenkovic, CGTN, Sarajevo.