33 bln yuan in deals signed at Beijing film festival

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Contracts valued at over 33 billion yuan (US$4.82 billion) in total were signed at the contract signing ceremony of the 10th Beijing International Film Festival on Friday, hitting a new record high.

Twenty-one key projects were signed at the ceremony, and 110 projects were signed at the Beijing Film Market, bringing the total contract value to 33.09 billion yuan, up 7% from last year.

The projects cover all aspects of the film industry chain, including film production, film financing and investment, training of young filmmakers, and the construction of cinemas, movie production bases, and cultural estates.

Among the key projects, Poly Film Investment confirmed four projects at the signing ceremony, including two movies "Crackdown on Criminal Activity: Tipping Point" and "Hello, Classmates." Hebei Runyongming Industrial Co. and ELOOKIN signed on the project of "Immersive Film and Television Character Experience Hall," which will be one of the first of its kind in China.

In addition, film companies at the signing ceremony are counting on new technologies, such as 5G and VR, to improve film watching.

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