A survey released Friday revealed that Hong Kong's twin events for the entertainment industry, the Hong Kong International Film and TV Market (FILMART) and Hong Kong-Asia Film Financing Forum (HAF), provide the best platform in Asia to market the latest products and to get financing for film productions.
Almost 70 percent of industry respondents described Hong Kong's FILMART and HAF platform as the most significant film event in Asia, followed by similar events in South Korea and Japan.
The study was carried out by independent survey consultant Oracle Added Value and included interviews with 340 international exhibitors and trade visitors at FILMART, which is being held this week in Hong Kong.
Buyers said they planned to source more than half their films and digital and TV entertainment products from Hong Kong. They revealed that South Korea and Japan were second and third sourcing choices.
The positive views of the respondents were underlined by the huge turnout to the two events.
HAF attracted 616 investors from around the world this year, 25 per cent up on last year, and more than 630 appointments were arranged for investors to meet the directors of 25 selected film projects.
FILMART drew 400 exhibitors and close to 4,000 buyers, the highest attendance in its 10-year history.
The survey described the Chinese mainland as Hong Kong's "promised land" for market growth.
The majority of respondents said Hong Kong was the best place for overseas film companies and entrepreneurs to meet their Chinese mainland counterparts to discuss co-productions and marketing matters.
The survey showed that Hong Kong's action movies were still the biggest money-earners, followed by comedy, horror and drama.
FILMART and HAF are part of the eight events featured in the current Entertainment Expo Hong Kong 2006, which started on March 20 and will run until April 19.
(Xinhua News Agency March 24, 2007)