Hong Kong, Asia, and Europe are all participating in a new effort that aims to create co-productions between the three regions. At the market, there was a panel discussion that discussed the potential and the goals.
During a panel discussion at the Cannes market, important figures behind a lucrative fund aimed to foster collaboration with European filmmakers explored potential. Recently, Hong Kong has opened its doors to international filmmakers who are interested in co-producing with the territory.
Initially introduced at the beginning of 2023, the Hong Kong-Europe-Asian Film Collaboration Funding Scheme is an extension of the Hong Kong-Asian program that was already in place. The Hong Kong Film Development Council (FDC) is in charge of the initiative that is supported by the government, and Create Hong Kong (CreateHK) is the organization that is responsible for promoting the new program when it was first announced earlier this year.
“We are committed to fostering a more collaborative global creative community.” In Hong Kong, the amount of money that a movie could raise for its production or distribution was decreasing. Having a limited budget means that you are unable to have a fancy set or intricate choreography for your performance. Because of this, the subject matter becomes increasingly concentrated on concerns that are specific to the area, which makes it more difficult for films to travel.
During the 1980s and 1990s, Hong Kong films had a significant presence in Southeast Asia; however, it appears that the international market is becoming less significant at the present time. The moment had come, in our opinion, to encourage productions to collaborate with companies from outside the industry rather than merely looking internally.
Filmmakers from Hong Kong, European countries, and Asian countries will be allowed to participate in the initiative, and a grant of up to $1.15 million (hk$9 million) will be awarded to up to eight films that meet the requirements.
When it comes to the three most important creative roles—producer, director, and screenwriter—projects are required to have at least one Hong Kong film practitioner and one European or Asian film practitioner involved. In addition to this, they must have been recognized or nominated for an award at a film festival or award ceremony that is recognized internationally.
The permanent residents of Hong Kong are required to fill six out of ten production categories, and at least thirty percent of the expenditures that are made below the line must be made in Hong Kong. In June, you will be able to submit your proposal.
One of the motivating factors behind the project is to foster the development of local talents through collaboration with other partners, so that they can gain knowledge from one another. This will broaden the scope of their creative endeavors,” Mak noted.
During the panel discussion, Franck Priot, who is the chief executive officer and producer of Ghost City in France, presented the European point of view. During the past few years, he stated, “I have witnessed a great deal of energy emanating from Southeast Asia.” The expansion is very remarkable. On the other hand, mainland China has the most box office revenue of any country in the globe. There is a location that can bring the two of them together, and we need it. Through the assistance of this fund, I have high hopes that Hong Kong will be able to serve as a bridge between these markets and Europe.
Raymond Phathanavirangoon, a well-known film producer and festival programmer located in Bangkok, called attention to the significance of the initiative. According to what he said, “Hong Kong is attempting to open possibilities so that it is no longer just that it is one market internally, but rather to look outside.” “In my opinion, that happens to be a very significant progress.”
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Chris Lo, who is the director for France, Spain, and Portugal at the Hong Kong Trade Development Council, discussed the increased demand for content from Asia and how his organization was aiming to make greater use of intellectual property.
It was stated by him that “more people are hungry for content from Asia, and at the same time, Asian content is becoming more varied.” As a result of all of our production experience over the years, Hong Kong has a very developed ecosystem, which includes everything from financing to intellectual property protection, marketing to sales.
“It is only logical that Hong Kong would be able to investigate potential in terms of how creative intellectual property might be facilitated in the Asia space. This is because Hong Kong’s principles, our experience, and our policy backing all support this. People, in light of all this progress and potential, are yearning for stories that are more locally relevant than those that are presented in Europe and the United States.
