Australia and China have inked a film co-production agreement in Beijing on Tuesday.
Deal — which covers features and made-fors — encourages closer ties between the two film industries and allows any co-prod to considered as a national product of both countries and therefore benefit from any coin or tax incentives in both China and Down Under.
The production is also treated as local content in each country for regulatory purposes.
“Australian and Chinese filmmakers have a great history of working together on internationally renowned film projects such as ‘Hero’ and ‘House of Flying Daggers,’ ” said minister for the arts Sen. George Brandis. “China represents a huge potential growth area for Australian production, and the opportunities to develop co-produced films which have cultural relevance to both countries are unlimited.”
First feature to benefit from the deal is “The Children of Huang Shi,” which is a three-way prod between Oz, China and Germany (with which Australia already has a co-prod pact).
Feature is in post-production and it is anticipated that the agreement will come into effect in the next few months.