Beijing Film Market Touts $1.7 Billion In Deals Signed

Clifford Coonan
Director John Woo, who presided over the international jury at the Beijing International Film Festival.

Transactions for a total of 32 projects were signed, up 20 percent on last year.

Organizers of the Beijing Film Market of the 4th Beijing International Film Festival (BJIFF) said the figure for transactions signed included $610 million (3.803 billion yuan) for film production, up 22 percent on last year.

There were $550 million (3.4 billion yuan) in deals for the construction of theaters and movie production bases, while the remainder went into other deals including film foundation projects.

The festival saw Paramount Pictures agree to link up with Chinese state film company China Film Group to co-produce a new 3D fantasy/action movie Marco Polo, with shooting due to begin in October this year.

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Some 724 film enterprises and institutions from 24 countries were registered at the Beijing Film Market, and the 248 exhibitors were up 20 percent on last year and included production companies, film facilities, industrial organizations, government departments and other institutions, as well as people in legal firms, advertisers and publishing.

There were 125 international exhibitors, exceeding the number of domestic participants for the first time, and the Film Project Market at the festival attracted 226 potential projects, up 120 percent on last year.

“We invited international key exhibitors for targeted niches and invited domestic key exhibitors, film producers and promising directors on a one-to-one basis, with a view to accentuating group advantages,” the organizers said in a statement.