With the Wanda Group’s announcement in mid-October of the new 40% production rebate incentive in Qingdao, many producers are looking to the city on China’s east coast as a home for future projects. Sweetening the deal: a state-of-the-art, 494-acre Wanda Studio production complex set to start operating in 2018.
The new studio will include an underwater studio, animation facilities, and film lots built to reflect many Chinese and European cities – and will structures such as museums, hotels, a yacht club, and a hospital.
Qingdao, a major seaport in Shandong province is home to over 9 million people. It boasts the world’s longest over-water bridge, the Jiaozhou Bay Bridge, with an aggregate length of nearly 26 miles.
The region offers some of Asia’s most stunning ocean views and beaches. The city itself is a vibrant mix of traditional and modern Chinese architecture, as well as a curious mix of German-influenced buildings owing to its German colonization at the turn of the 20th century.
Incentive specifics are as follows:
A 40% cash rebate on qualified spend.
The minimum spend required is approximately $4.4 million.
There’s a project cap of approximately $17.7 million.
Foreign producers and domestic producers must invest jointly in the productions.
Films that have shot or are scheduled to shoot in Qingdao include: “The Great Wall” (2016), “Into the Rainbow” (2017), “Pacific Rim 2” (2018), and “Godzilla 2” (2019).
Information courtesy of EP Financial Solutions, a production incentive consulting and financial services company.