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H.K. set up fund to boost film industry
2001-01-04
HONG KONG - A multi-million dollar package to revive Hong Kong's once thriving film industry was announced Monday by government officials.Some 23.5 million Hong Kong dollars (3.02 million US) have been allocated to nurture the industry's long-term development and boost the regions's status as an international film location, AFP reported. Fifteen projects will benefit from the sum, administered by the Film Development Fund, details of which will be unveiled amid a major publicity event at the Cannes International Film Festival in May next year, said Helen Tang, the assistant commissioner for Television and Entertainment Licensing. "The project aims to enhance the international status of Hong Kong films, to develop overseas markets as well as to promote Hong Kong as an ideal place for film shooting," she said. "The publicity drive will feature a spectacular gala, screening of Hong Kong films during the Film Festival, promotional booths at the International Village of the festival venue and advertisements in popular international film magazines around that period to attract worldwide attention," she added. She said films nominated for overseas film festivals may apply for sponsorship from the Film Development Fund, adding that the main objective of the Fund was to improve local film industry standards and benefit its long term development. The 100-million Hong Kong dollars Film Development Fund was set up in 1999 as a major source of support to the local film industry and a display of government commitment. Six years ago Hong Kong was the world's third largest film producer, behind the United States and India. But following the Asian financial crisis, output was cut to one third of its previous level. The decline in quality films has not been helped by an exodus of film makers and stars. Action star Jackie Chan, director John Woo, Bond girl Michelle Yeoh and Anna and the King star Chow Yun Fat have all been lured away by Hollywood.However, there was widespread jubilation here after Hong Kong director Wong Kar-wai's "In the Mood for Love" won two awards last year. Tony Leung Chiu-wai won Best Actor and the film also picked up the Technical Grand Prix.
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