You will be redirected back to your article in seconds

China to Give Film Industry Cash Injection

Tax breaks also on the agenda.

HONG KONG – China’s film industry is to benefit from a government stimulus package, it was announced on Thursday.

According to official news agency Xinhua there will be a cash injection of RMB1 billion ($163 million), provided by a cluster of ministries. It will support the production of between five and ten movies each year for five years.

The cash will come from the Finance Ministry, the National Development and Reform Commission, the Ministry of Land, the Housing Ministry and the Urban People’s Bank of China.

Other cash from the pre-existing cultural development fund will go towards promoting the use of high-technology in movie making, boosting exports of Chinese films, investing in highly-marketable productions and building professional film websites.

The sector will also benefit from a package of tax cuts. Value added tax will be removed business revenues flowing from copyright sales and distribution revenues for a period of five years running till 2018. Movie theatres in rural areas will also be exempted.

With cinemas being built at the rate of over a dozen per day and some 600 films produced annually, China is not exactly developing slowly. But there are concerns that quality is not being given a high enough priority.

More Film

  • NOR_D01_053017_9621_R2 – L-R: Tom Hanks (Ben

    Steven Spielberg's 'The Post' to Open Palm Springs Film Festival

    HONG KONG – China’s film industry is to benefit from a government stimulus package, it was announced on Thursday. According to official news agency Xinhua there will be a cash injection of RMB1 billion ($163 million), provided by a cluster of ministries. It will support the production of between five and ten movies each year […]

  • Willa Fitzgerald

    'The Goldfinch' Movie Adaptation Casts Willa Fitzgerald (EXCLUSIVE)

    HONG KONG – China’s film industry is to benefit from a government stimulus package, it was announced on Thursday. According to official news agency Xinhua there will be a cash injection of RMB1 billion ($163 million), provided by a cluster of ministries. It will support the production of between five and ten movies each year […]

  • Star Wars: The Last Jedi

    'Star Wars: The Last Jedi' Speeds Toward $200 Million-Plus Weekend in the U.S.

    HONG KONG – China’s film industry is to benefit from a government stimulus package, it was announced on Thursday. According to official news agency Xinhua there will be a cash injection of RMB1 billion ($163 million), provided by a cluster of ministries. It will support the production of between five and ten movies each year […]

  • Valerian review

    EuropaCorp Posts Half-Year Loss of $83 Million

    HONG KONG – China’s film industry is to benefit from a government stimulus package, it was announced on Thursday. According to official news agency Xinhua there will be a cash injection of RMB1 billion ($163 million), provided by a cluster of ministries. It will support the production of between five and ten movies each year […]

  • Palm Springs Where to eat Drink

    Palm Springs Hotter Than Ever: Places to Eat, Drink, Stay

    HONG KONG – China’s film industry is to benefit from a government stimulus package, it was announced on Thursday. According to official news agency Xinhua there will be a cash injection of RMB1 billion ($163 million), provided by a cluster of ministries. It will support the production of between five and ten movies each year […]

More From Our Brands

Access exclusive content