This year’s Beijing International Film Festival has pulled in a total of $2.23 billion worth of contracts in its Beijing Film Market section.
The record-breaking figure, which is a 32-percent increase from last year, is a statistic higher than all other film festivals in Asia. This is according to the film fest's organizing committee at the Sino-Foreign Co-production Films' signing ceremony.
The contracts signed on Monday comprise 36 major projects, which cover production, creation, marketing and release.
A total of $725 million will be allotted for film projects, $887.2 million for theater chain and film funds project, and $621 million for studio-based film projects.
The upcoming film title endeavors will include the animated film "Beast of Burden," which will be jointly produced by the New Zealand's Huhu Studios and China Film Animation Ltd.
The film will follow the story of how animals slaved by oppressive leaders find love and the knowledge on how to walk upright.
Movie enthusiasts can also expect a series of films that will be co-produced by the U.S., France, Germany, Canada and Russia. Meanwhile, South Korean and Chinese film companies will also team up for six movie titles.
The 2015 edition of the Beijing Film Festival has gathered a total of 275 registered companies, 140 of which are international firms from 25 countries across the globe.
From April 17-20, over 12,000 industry icons, executives, professionals and visitors partook in a total of 38 events.
"The Beijing Film Market is expanding at a yearly rate of 30 percent, which is mainly because of the arrival of these international filmmakers. They do not come for fun but for opportunities," the film fest's director general, Li Chungliang, remarked.
Li is also the vice president of the organizing committee.
The festival will run until Thursday, April 23.