29 May 2014
UK and China sign Film Co-Production Agreement
The treaty, which was negotiated for the UK by the British Film Institute (BFI) with support from the DCMS and UK Trade & Investment in Beijing, will allow qualifying co-productions to access national benefits including sources of finance and an easier passage to audiences. In the UK this includes the Film Tax Relief and the BFI Film Fund, which is the UK’s largest public film fund. In addition, eligible co-productions will not be subject to China’s quota on foreign films, which only permits a limited number of non-domestic titles to be shown in Chinese cinemas each year.
China’s film entertainment sector (including cinema, Video on Demand and DVD) was estimated to be worth US$3.26bn in 2012. Films made as China/UK co-productions will be able to access the second highest box office audience in the world, worth US$2.7 billion and forecast to grow to US$5.5 billion by 2017.
Mr Vaizey was in China in April as part of a UK government delegation to push forward new areas of cultural collaboration and champion the tremendous success of the UK’s creative industries.
Learn more about film co-production with China: Co-producing with China: what’s in it for Australia?
This article from Asian Creative Landing Pad looks at the scope and benefits for developing film co-production between Australia and China. It reviews co-productions which have taken place between China and other countries such as Japan, the Philippines, Mongolia, Italy and Singapore.