China’s DeZerlin Media and the U.K.’s Zycon Media have agreed to co-finance and produce a large slate of film and TV animation.

The agreement, signed on Thursday at the British Ambassador’s residence in Beijing in the presence of the U.K. Prime Minister Theresa May, covers 10 feature films and 10 TV series to be made over a period of 8 years. Aggregate production value is estimated at $160 million (RMB1 billion).

“Traditionally, intellectual property has been created in the West, and Chinese partners are then sought out for finance and production services. But with this deal, DeZerlin reverses the process, generating all of the original IP internally, and partnering with Zycon for co-finance and co-production utilizing the excellent creative and technical talent in the UK,” the companies explained.

“Watch the Skies,” an action fantasy about a marooned alien boy and the earth kids who rescue him, is the first title in the film slate. Under the direction of DeZerlin’s chief creative officer Mark Byers, it is set for delivery in early 2019. A prominent English-language voice cast is expected to be attached. A second title, “Codename: Furball” is a WWII-set adventure set to start production in Spring this year.

Based in Qingdao and founded with the backing of Houtu Venture Capital, HG Capital, and DH Capital, DeZerlin has been in operation since 2010. It specializes in “creating broad worlds and vast universes from which characters, stories, and franchises for all media can be drawn and developed.”

“DeZerlin Media is a forward-thinking company, and their philosophy of developing internal IP to reach a wider global market is refreshing to me, and makes them a true industry leader in China,” said Zycon CEO Mohammed Khalid.

Zycon has been involved with the film “Cricket & Antoinette” and pre-school series “The Yugo Channel” with Cheerland Entertainment.

“It is exciting for us to break through cultural barriers between East and West, and bring entertaining original content to the world through this partnership,” said Lin Zhang, DeZerlin founder and CEO.