×
You will be redirected back to your article in seconds

Beijing Festival: Chinese Art Films to Get $16 Million Acquisition Fund

The emerging art house film sector in China is to get a further boost from the launch of a $16 million (RMB100 million) specialized acquisition fund. The initiative is backed by five companies already operational in the sector.

The A.R.T. Project fund is intended to invest in 15 films by Chinese directorial talent over a period of five years. All are to be guaranteed Chinese theatrical release, international festival representation and overseas sales.

The backers include: Perfect Village Entertainment, the merged production operations of Perfect World and Village Roadshow in China; Hong Kong and Chinese-based distributor and exhibitor, Edko Films; Hong Kong producer Irresistible Films; Chinese marketing firm and website operator Maoyan Media, and state-owned distributor, Huaxia Film Distribution.

“The A.R.T. Project partners all agree that there is nothing more important than nurturing the new generation of Chinese filmmaking talent. We are up and running at full speed, with three releases confirmed for 2018, and look forward to bringing many exciting new films to audiences in China and beyond over the years to come” said Bill Kong, industry icon and head of Edko Films.

The first film to be released is “Walking Past the Future,” the drama directed by Li Ruijun. The film is set for theatrical release in China on May 17, 2018, almost exactly a year after its premiere in Cannes’ Un Certain Regard section last year.

Two other titles, currently without release dates, are “Send Me to the Clouds,” Teng Congcong’s directorial debut, starring beloved character actress Chen Yao and popular TV star Hong Yuan; and “Poet,” directed by critically acclaimed Liu Hao, starring popular actors Song Jia and Zhu Yawen.

“Over the last few years we’ve been thrilled to witness the Chinese audience’s growing appreciation of quality filmmaking, which has led to the breakout success of several Chinese arthouse films. The time has come for us to join forces to unlock the enormous potential of this sector and help China’s young filmmakers grow and thrive,” said Ellen Eliasoph, CEO of Perfect Village.

China’s art house sector has struggled as the country’s film industry has sped into modernization. While fewer films are made as underground projects, among the remaining obstacles facing the sector are an obsession with mainstream commercial films, the lack of a dedicated art film circuit and continued censorship.

The lack of dedicated screens is being countered by the recent establishment of the National Alliance of Arthouse Cinemas, another public-private initiative that also includes Edko and Huaxia. The NAAC operates with both Chinese and imported titles.

More Film

  • Korea Box Office Weekend: ‘Default’ Wins

    Korea Box Office: ‘Default’ Wins Again, ‘Nutcracker,’ 'Mortal Engines' Fail to Excite

    Korean-made financial drama, “Default” remained on top of the South Korean box office for the second consecutive weekend. The CJ Entertainment release earned $4.95 million from 631,200 admissions between Friday and Sunday for a total of $19.9 million after two weekends on release. “Bohemian Rhapsody” also remained in second. The Fox release earned $4.79 million [...]

  • Ventana Sur: Meikincine Picks Up ‘Just

    Ventana Sur: Meikincine Takes ‘Just Love,’ ‘Super Crazy’(EXCLUSIVE)

    BUENOS AIRES — Lucia and Julia Meik’s Buenos Aires boutique sales company Meikincine has acquired international sales rights to two of the more mainstream Argentine propositions at this year’s Ventana Sur: Andy Caballero and Diego Corsini’s “Just Love,” and “Re Loca,” the Argentine remake of Chile’s “Sin Filtro.” The “Re Loca” deal is for world [...]

  • Priyanka Chopra Variety Power of Women

    Ivanhoe Pictures Boards Priyanka Chopra’s ‘The Sky is Pink’

    “Crazy Rich Asians” producer Ivanhoe Pictures has come on board Priyanka Chopra’s family drama “The Sky Is Pink.” Ivanhoe will co-invest and co-produce. Fact-based, “Pink” is written and directed by top director Shonali Bose and is based on the life of motivational speaker Aisha Chaudhury. The film is Chopra’s first in India since her U.S. [...]

  • Aquaman

    China Box Office: ‘Aquaman’ Sinks All Challengers With $94 Million Opening

    The decision to release “Aquaman” in China two weeks prior to its North American outing paid off handsomely. The DC Comics adaptation achieved a massive $94.1 million opening in three days, according to data from Asian entertainment consultancy Artisan Gateway. The early release meant that the film played against weak opposition – tired Hollywood and [...]

  • Alfonso Cuarón, Emmanuel Lubezki Discuss the

    Alfonso Cuarón Details 'Roma' Cinematography With 'Gravity' DP Emmanuel Lubezki

    As part of an overall push to bring Alfonso Cuarón’s “Roma” to awards season voters, Netflix’s “‘Roma’ Experience'” played host to guild and Academy members Sunday in Hollywood. The all-day event featured panels focused on the film’s crafts and an audio-visual installation akin to the streamer’s FYSee initiative for Emmy contenders, featuring costumes and art [...]

  • IFFAM: Erik Matti Hatches Plans for

    IFFAM: Erik Matti Hatches Plans for ‘On The Job’ Franchise

    Filipino director Erik Matti is known for his eclectic body of work that includes “Honor Thy Father” and “Seklusyon.” His 2013 effort, “On The Job” travelled widely and won several awards including two at the Bucheon International Fantastic Film Festival, and was nominated for an SACD Prize at the Cannes Directors’ Fortnight. Matti is at [...]

  • Joan Chen attends the season premiere

    Joan Chen Talks Diversity in Hollywood, Welcomes #MeToo

    Chinese-American actress, writer and director Joan Chen says that she was flattered when Time magazine described her as the “Elizabeth Taylor of China.” When asked at an in-conversation event in Singapore on Saturday whether she paved the way for Chinese actresses to follow in Hollywood, Chen said, “We never go to work because we want [...]

More From Our Brands

Access exclusive content