Shanghai Festival Forum: Chinese Film Seeks to Raise Professional Standards

Variety | 6/15/2019 | Patrick Frater
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Greater professionalism within the Chinese film industry could lead to higher standards and greater overseas success. That was the unsurprising conclusion of the “Global Film Industry Value Chain Forum” held in Shanghai on Saturday on the eve of the city’s showcase annual film festival.

Speakers from China, the U.S., and Europe identified a need for improvement in screenwriting, production skills, and understanding of international markets as factors that could help Chinese movies to make a global breakthrough.

Optimist - Industry - Financier - Bennett - Pozil

Ever the optimist, industry financier Bennett Pozil of EastWest Bank predicted: “In the next 12-18 months there will be a Chinese movie that has global pull. Chinese films are going to find their voice internationally,” though his reasoning was external to China and predicated on the growing importance of streaming and the consolidation of Hollywood studios.

“Disruption in the U.S. is good for Chinese films. P&A (print and advertising costs) are used as a barrier to entry to the U.S. market — $40 million needed just to get you to the table,” said Pozil, suggesting that streaming firms can distribute Chinese films to worldwide audiences at a fraction of the cost.

China - Co-production - Supremo - Ho - Surge

China’s co-production supremo was less gung ho. “We’ve witnessed a surge in co-productions {between China) and the U.S. and with Europe. The box office (in China) for American films has been strong, that’s why US prods are coming to China.,” said Miao Xiaotian, president of China Film CO-production Corporation. “But success stories among co-productions are not that common. That’s down to cultural differences, and lack of knowledge of each other’s markets. Most of the co-productions that have succeeded are Chinese...
(Excerpt) Read more at: Variety
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