by Angela Efros

LOS ANGELES, July 29 (Xinhua) -- Despite pessimism across the country triggered by headlines of the U.S.-China trade friction, optimistic entrepreneurs, executives, and investors came together for "Digital Entertainment Meets China Meets Tech," Silicon Dragon's 4th annual event in Pasadena in western U.S. state of California this week.

Founded by author, Forbes columnist and CNBC special correspondent, Rebecca Fannin, Silicon Dragon hosts tech and investment forums in Asia, the U.S. and Europe.

"It's very timely and topical," Fannin tells Xinhua on Wednesday. "While deals are being scrutinized in Washington, China-U.S. deals and California are being hit hard by that in technology and digital entertainment. So we wanted to bring together a forum where things could be discussed and people could communicate."

The program featured "Asia's Tinseltown," a panel of entrepreneurs with expertise in film and TV production opportunities in China and Asia. Attendees listened intently to the Asian-oriented entertainment gurus as they shared their stories of success, failure, frustration, and rewards. Panelists start by assuring the audience that China is still ripe for entertainment deals.

"I'm directing/producing Chinese-oriented superhero film called 'Defenders of the Gao' and involved in two large digital media deals between the U.S. and China, so there's still hope. Don't give up," Julia Pierrepont, CEO and Producer at Pierrepont Productions advised the audience. Pierrepont is known for movies such as "Good" (2008) starring Viggo Mortensen; "Battle in Seattle" (2007), starring Charlize Theron, Channing Tatum and Michel Rodriquez; Golden Globe-nominated "Casino Jack" (2010); and "Lost in the Pershing Point Hotel" (2000).

John Penotti, President of Ivanhoe Pictures, the company producing "Crazy Rich Asians," agreed. "Those who don't look at China, do it at their own peril."

However, the five panelists make it clear that filmmakers need to be aware of challenges going in to the Asian film market. Penotti tells the audience, "I feel like with the launch of 'Crazy Rich Asians,' that journey, kind of illustrates the challenges between cross border production."

Legacy Pictures partner and actor, Cary Woodworth, tells Xinhua, "It is really hard to find a proper co-production, something that will really work in both markets, because they're so different. It's like literally taking water and oil and trying to make it fit together. it's totally different ways of life."

"It's important for people to understand is there's still some interesting opportunities in China, you just have to understand what the needs of the Chinese are and not try to force your needs on them," Pierrepont explains.

She added, "They're less interested these days in co-productions, and more interested in doing original Chinese productions. They want to bring in Americans to help them up their game. They are also interested in buying IP, and getting involved in branding & advertising. Those are a few of the areas that the Chinese are interested in developing and investing in."

Woodworth shared his rule of thumb for finding content that works in China. "When you look at certain movies that have done well, there's certain things that consistently work." Woodworth's company, Legacy films, is known for the Chinese comedy, "Old Boys: The Way of the Dragon." (2014).

Woodworth continues, "One thing is family stories, another thing is something that is timely to Chinese, what's going on in China right now, a social issue, and that always works. Chinese producers and the Chinese people are looking for something that's going to touch their heart. And that's really important to realize, because the Chinese heart is very powerful."

Pierrepont adds, "The China film market is becoming more Chinese-oriented. They are localizing their content, they want things that reflect who they are, not just big hollywood blockbusters. There's great opportunity there for American indie films or Chinese indie films, that you can participate in as a professional, as a writer, director, producer. Hollywood can help them make a better Chinese movie - it doesn't have to be a hollywood movie."

The trend in China seems to be to a grow global audience. Penotti says, "If you're a writer going into tell a story to China from the U.S. perspective, that's not interesting to a chinese audience. You really have to understand who you're making the movie for. We knew going in we were making 'Crazy Rich Asians' for a worldwide audience."

"In my opinion the global village is getting smaller and smaller," Broadvision Pictures founder and producer Jean Su tells listeners. Su is focused on producing stories of real life heroes. Two of her upcoming productions, "Silver Wing" and "Mistress Mom" will feature Asian female leads, successfully catching the attention of American investors with a recent interest in looking to Asia and focusing on diversity. "I don't care if you're black, white, Chinese, or Asian - you have a good story to tell, Everyone."

"I know enough about the Chinese film market to know I need to know a lot more," audience-member, Tony Potts, a 30-year TV veteran and Managing director at First International Films tells Xinhua.

"It's a huge, massive possibility and also fraught with disaster, for us, if you're not educated. So opportunities like Silicon Dragon are great because they bring in the key players who understand and have been there and have probably been smacked upside the head a couple times with failures, but have learned a lot," he concluded.

Pierrepont shares her hope for the future with Xinhua, "There's tremendous opportunity for artists like us to reach across the aisle, reach across the pacific, and make powerful joint ventures happen that are win-win for both countries, both cultures, that can enhance our understanding of each other." Enditem

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