Culture
18:49, 20-Apr-2018
The 8th BJIFF signs film contracts worth over $4 billion
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Contracts amounting to over four billion US dollars have been signed at the Contract Signing Ceremony of the 8th Beijing International Film Festival (BJIFF) on Friday, hitting new record high.
Around 79 companies from home and abroad confirmed 38 key projects amounting to 26.0825 billion yuan (about 4.1467 billion US dollars), an approximately 49 percent increase from last year.
China-Spain Co-production project. /CGTN Photo
China-Spain Co-production project. /CGTN Photo
In the context of the Belt and Road Initiative, the cooperation between China and Spain has become closer and cultural exchanges have become more frequent. A group of Chinese media companies including Ding Junshan Media have signed contracts with Spanish company Animation Bikes A.I.E, valued at 600 million yuan (95.3 million US dollars). It opens a new chapter of cooperation between China and Spain.
The Contract Signing Ceremony has remained one of the most important activities of the BJIFF since the film festival was launched in 2011. It’s open to all professionals of motion picture and television companies, as well as companies and organizations offering services to the film industry.
The number of projects and the contract of volumes signed at the film festival has kept steady growth over the past seven years.
Number of projects signed at BJIFF in the past seven years /CGTN Photo
Number of projects signed at BJIFF in the past seven years /CGTN Photo
Contracts of volumes signed at BJIFF in the past seven years /CGTN Photo
Contracts of volumes signed at BJIFF in the past seven years /CGTN Photo
“The Contract Signing Ceremony not only provides a platform to promote film projects, but also develops into an important window for advancing culture self-confidence and promoting cross-culture communications,” said Hu Dong, deputy director of Beijing Municipal Bureau of Press, Publication, Radio, Film and Television, at the ceremony on Friday.
This year’s film festival will screen 260 local and foreign films (out of the 800 films that were submitted from all over the world) across 20 of the nominated cinemas in Beijing.
The BJIFF runs until April 22.
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