China's lackluster movie market shows its pressing need for quality tales, say some insiders at a recent script-trade event held in Ningbo, Zhejiang province.
In the traditionally lucrative summer season from July to September, the country's box office receipts have grossed 12.43 billion yuan ($1.86 billion), slightly down 1.6 percent year on year.
Speaking of the first such fall in the past five years, Zhu Yuqing, one of the organizers, said the market's poor performance is mainly caused by the reduction of ticket subsidy.
Financers who spent huge sums in subsidies were seeking a quick return, which resulted in the fall of script quality, said Zhu.
He added that the movie industry's healthy development relies on good stories to lure audiences.
From 400 contenders, the fair selected 12 scripts and will help the creators find investors.
A script-writing base will also be established in Xiangshan county in Ningbo, the first of its kind in the country. It aims to provide resources and residences for up and coming scriptwriters.