China Film Investment and Financing Summit and China Film Investment and Financing Research Report (2019) were held in Beijing.
"The combination of finance and film will surely promote the great development of China’s film and television culture industry and cause, and today’s summit is very important for the exchange and cooperation between the two." Dong Ming, deputy secretary-general of the Beijing International Film Festival Organizing Committee, gave a speech that aroused high resonance and enthusiastic response from the participants. On April 17th, the 9th Beijing International Film Festival, China Film Investment and Financing Summit and the release conference of China Film Investment and Financing Research Report (2019) were successfully held in Beijing.
China Film Investment and Financing Summit and China Film Investment and Financing Research Report (2019) were successfully held.
The summit was hosted by Beijing International Film Festival Organizing Committee and Juyinghui (Beijing) Film and Television Culture Co., Ltd., and jointly sponsored by China (Huairou) Film and Television Industry Demonstration Zone, with strong support from Beijing Rural Commercial Bank and Beijing Wenchuang Jinfu Platform. Zhang Pimin, Chairman of the China Film Foundation and former Deputy Director of the General Administration of Press, Publication, Radio, Film and Television, Zhou Maofei, Chairman of Beijing Cultural Investment Development Group Co., Ltd., Zeng Linfeng, Vice President of Beijing Rural Commercial Bank, Jiang Ping, Vice Chairman and General Manager of China Film Co., Ltd., and more than 300 guests from the film industry, financial circles and media discussed in depth the cooperation experience and prospects of film and television and finance.
On behalf of the organizers, Zhu Yuqing, the founder of Juyinghui, released the "China Film Investment and Financing Research Report (2019)", and published the research results of more than 100 financial institutions and professional film and television investment enterprises. In the signing ceremony, Beijing Rural Commercial Bank, Beiqing Media Co., Ltd. and Shimei Entertainment (Beijing) Co., Ltd. held a signing ceremony for a number of films and major film and television cultural projects, with an intended signing amount of nearly 2 billion yuan.
Film and finance usher in a new opportunity for cooperation
In his speech on behalf of the organizing committee of the film festival, Dong Ming pointed out that this summit is a concrete measure for the organizing committee of the Beijing International Film Festival to implement the State Council’s strategy of "cultural innovation", especially the new idea of "cultural innovation and financial innovation integrated development" in Beijing. Committed to building an important platform for exchanges and cooperation between the film industry and the financial sector, deeply analyzing and judging the development status and future trends of film investment and financing, exploring new opportunities and new models for cooperation between the two sides, and increasing financial support for the development of cultural industries in the capital.
"As a state-owned financial enterprise in Beijing, Beijing Rural Commercial Bank actively laid out financial support for the construction of the Capital Cultural Center and put forward cultural development measures that are in line with business development strategies and highlight business characteristics." Zeng Linfeng revealed in his speech that Beijing Rural Commercial Bank has set up a general cultural and creative financial service center and four cultural and creative financial characteristic sub-branches in Dongcheng, Xicheng, Chaoyang and Huairou, and set up cultural and creative financial characteristic sub-branches to form a three-level cultural industry service system to help the development of cultural and creative industries. From the perspective of "culture+",we will deeply support the integration of culture and high-end manufacturing industries. "In the next step, Beijing Rural Commercial Bank will continue to thoroughly implement the work arrangements of the municipal party committee and municipal government, provide all-round financial services for cultural and creative enterprises, especially film enterprises, and discuss in depth with the guests the new ideas and methods of financial assistance to the development of the film industry."
Zhang Pimin and Zhou Maofei gave keynote speeches on the opportunities and prospects of cooperation between the film industry and finance, and the experience of film investment and financing. Zhang Pimin pointed out that the healthy and prosperous development of the film industry is an important part of building a strong cultural country and promoting socialist core values. The addition of capital has improved the level of film production and promoted the overall upgrading of the industry. Nowadays, the film industry is developing in the direction of standardization, specialization and scale. At the end of 2018, a series of central and local policies were promulgated and implemented, especially the the State Council of the CPC Central Committee issued a series of financial institutions to support the development of film and television culture industries and undertakings, and encouraged them to increase their support for private enterprises and small and micro enterprises. At present, the financial industry is generally facing a new transformation. How to find the combination point and balance point of cooperation between film and finance needs joint research and practice.
As the "head" of Beijing Wentou, who has repeatedly "voted for the explosion" films, Zhou Maofei shared his experience in investment and financing of Beijing’s cultural industry, especially film and television. "We must have feelings for the construction of cultural undertakings and be patient with investment in cultural industries." Zhou Maofei also pointed out that risk prevention and control is very important for investment in film and television. "The combination of film and finance is inevitable for industrial upgrading, but under the new logic of industrial development, it is necessary to explore new ‘ Safety valve ’ Establish a new development and cooperation model. "
Huang Qunfei, executive deputy general manager of Huaxia Film Distribution Co., Ltd., believes that financial institutions can intervene in the publicity stage with relatively controllable risks, such as providing financial support for small and medium-sized film and television enterprises through box office and copyright income mortgage. Wei Pengju, dean of the School of Culture and Media of the Central University of Finance and Economics, believes that there are many options for the integration and development of film and finance from the perspective of the relevant financial policies of the country and Beijing. "It is important to be brave in trying and constantly improving in practice."
Chen Hui, president of Fujian Hengye Film Co., Ltd. believes that under the background that content is king, high-quality films are the basis of cooperation in the field of film and finance. "Good ideas and scripts require sufficient funds and excellent teams to make excellent films. Finance is not only a credit support for movies, but also can achieve the common goal of deep cooperation through film implantation and sharing of customer groups. "
The president of Beijing Wenchuang Financial Services Network Platform is intoxicated, saying that it is necessary to further promote the linkage of "investment and loan awards" in the cultural field, give full play to the advantages of time-saving, labor-saving and money-saving financing services of Wenchuang Financial Services Platform, promote the extension of "investment and loan awards" to the source of film and television industry, and strengthen the whole process support and supporting services for film and television enterprises.
Gabrielle catrice, president of American Actors Guild and Radio and Television Federation, who came to the meeting from the United States, shared the pay system of Hollywood actors and how big-name actors can support excellent small and medium-sized investment films. "Actor’s pay is an important aspect of film budget and investment. I believe that everyone will be able to find a better way of cooperation and achieve win-win development."
China Film Investment and Financing Summit Forum
55.6% of financial investment launched film and television credit business.
The China Film Investment and Financing Research Report (2019) was released.
The most important thing of this summit is the official release of the highly anticipated "China Film Investment and Financing Research Report (2019)", witnessed by distinguished guests. "The survey results show that 77.8% of financial investment institutions have plans to get involved in film credit or related businesses, more than 60% of financial institutions have set up special departments such as film and television, and 55.6% of financial institutions have introduced various film financing business priority or special support credit policies." In his speech, Dong Ming quoted the research results of this report and affirmed it.
The China Film Investment and Financing Research Report (2019) was released.
As the editor-in-chief of the report, Zhu Yuqing introduced the relevant situation and main conclusions of the survey. According to him, this survey was conducted by Juyinghui in collaboration with Beijing Rural Commercial Bank and other institutions, using professional and scientific research methods and means. It lasted for several months, and in-depth visits were made to more than 60 financial institutions and more than 80 investment institutions across the country. A total of 372 valid samples were collected. Through professional and scientific research methods and means, the problems and contradictions of film investment and financing were summarized, the market development law was grasped, and the future development trend was prospected, and the current development status of film investment and financing was deeply understood. Analyze and judge the development trend and new situation of film investment and financing market, build new channels for interconnection between film and capital, strengthen exchanges and cooperation between them, jointly grasp new opportunities for cultural development in the new era, and explore new modes of cooperation.
Zhu Yuqing also announced the main conclusions of this survey: the willingness of financial institutions to set foot in the film and television entertainment sector has greatly increased, and 55.6% of financial institutions have introduced various credit policies that give priority to or support the film financing business. However, the exchanges and cooperation between financial institutions and the film business are still in the initial stage of exploration, and financial institutions have not established quantitative indicators in terms of investment quota, expected income ratio and repayment period. In the future, they still need to conduct multiple rounds of discussions and form a stable model. Asymmetric information, uncertain income and ignorance of the film and television industry are the main difficulties that financial institutions encounter when expanding their film and television business. In the case of natural industry barriers in the two fields, the importance of professional third-party institutions is increasingly prominent, and they will bridge the gap in project evaluation.
Zhu Yuqing appealed at the scene, hoping that more financial institutions and relevant units can join the research report team, "expanding the sample size and analyzable elements and parameters, constantly improving and enriching the content of the report, and releasing an upgraded research report to you next year, providing an important reference for the cooperation between film and finance."
In the final signing ceremony, Beijing Rural Commercial Bank, China (Huairou) Film and Television Industry Demonstration Zone, Beiqing Media Co., Ltd. and other 10 films and major film and television cultural projects held a signing ceremony on the spot, with an intended signing amount of 2 billion yuan.