Germany's Studio Babelsberg, Shanghai Film Group Sign Cooperation Agreement
The European and Asian studios want to pool resources for international co-productions.
Studio Babelsberg, Germany's largest film studio, has signed a cooperation agreement with Shanghai Film Group, one of Chinas's leading film production companies.
The strategic alliance, announced Wednesday at the Shanghai International Film Festival, is aimed at pooling resources between the European and Asian studios to make international co-productions more efficient and professional.
Ren Zhonglun and Wang Xiaojun, president and vice president, respectively, of Shanghai Film Group, signed a memorandum of understanding with Studio Babelsberg heads Charlie Woebcken and Christoph Fisser that outlines the goals of the agreement. They include Studio Babelsberg helping Shanghai Film Group with the modernization of its film complex in China, the country's oldest, and the development of a joint production services unit that can produce big-budget films in China “to international standards.”
“In addition, we are looking at international co-productions where a fruitful exchange of know-how can exist on both sides,” said Woebcken, noting that both Studio Babelsberg and the Shanghai Film Group have a “great tradition” of filmmaking. Studio Babelsberg, established in 1912, is the oldest film studio in the world. Shanghai Film Studio, founded in 1949, is the oldest in China.
Shanghai Film Group is one of China's largest film conglomerates. Its core business is production, but the group also controls China's largest cinema circuit, representing more than 1,800 screens across the country.