We always hear how the Chinese film industry is full of rich potential. Now, the industry itself finally generated interests from foreign companies.
At a recent forum alongside China International Film Festival London, Chinese and British film makers sought more mutual cooperation to boost film businesses.
He Han, General Manager of Beijing Hangmei Entertainment Company, estimated that the total revenue of the Chinese film market this year would surpass 20 billion RMB.
The estimate has been realized earlier this month. It is expected that the figure could reach 22 billion RMB by the end of December.
This huge market provides a lot of opportunities for Chinese and British film makers to cooperate.
"In the Chinese film industry, we have capital and huge consumption potential, but we lack technology, creative ideas and good market mechanism."
Another challenge for the Chinese film industry is that the movies it produces do well in China, but seldom see success abroad.
Kong Xiangxi, chairman of the organization committee of the festival, says that Chinese film makers should conduct film diplomacy to make Chinese films more popular.
"I believe Britain is interested in modern Chinese films. We expect to be more popular in Britain and other European countries with an advanced film industry, like Germany, France and Italy."
Kong Xiangxi's expectation is supported by British film producer Julian Alcantara. He is impressed by the growth of the Chinese market, as the appetite of Chinese audiences for films has grown.
Alcantara sees potential for British films to make serious headway in the Chinese market.
"There is a huge amount of interest from British producers, British film makers to work with China. Both taking British films to Chinese audience, but also working with Chinese film makers to tell stories and make films in China. We welcome collaboration with open arms."
Actually, deepening cooperation could also gain British films and TV shows more fans in China.
Zhu Huilong, Senior Vice President of YoukuTudou, China's leading Internet television group, elaborates.
"British TV shows, like Sherlock and Downton Abbey, are very popular in China on the Internet. I suggest that the British entertainment industry pays more attention to the Chinese market. British films and TV shows are expected to have 1 billion RMB revenue potential in China."
The huge potential of the Chinese film market is a clear fact and an inevitable trend. Potential means opportunities and bigger business prospects. It is expected that Chinese and British film makers could find more common points in cooperating and introducing their products to audiences in each other's market.
That was Su Yi reporting. You are listening to Biz China, every Saturday morning in Beijing and other overseas stations.