China has surpassed the 20-billion-yuan mark for total gross of films earlier than last year. (Photo : Reuters)
Relations between China and the U.K. have been further strengthened through the prominent film industries of the two nations, after a bilateral film co-production treaty was ratified at Shanghai's historic Bund waterfront on Wednesday, March. 4.
The announcement was publicized as soon as U.K. Culture Secretary Sajid Javid and Tong Gang, vice minister at China's State Administration for Radio Film and Television, completed the process at the GREAT Festival of Creativity cultural event.
Now that the official document has been ratified, British-Chinese co-productions are liberated from the quota system for foreign films in the world's second-largest film market.
The terms and content of the treaty were initially brokered 11 months ago, followed by an announcement in April 2014. The context of the brokering process was a British trade mission to China, at which British Film Institute (BFI) representatives were also present.
According to pleased British government representative, Javid:
"This treaty is a breakthrough for U.K. and Chinese production companies. It will pave the way for U.K. producers and their Chinese counterparts to share their creative expertise and make incredible films that will be enjoyed around the world."
At present, a limit of 34 revenue-sharing non-domestic titles can be projected to Chinese cinemagoers on an annual basis, but a far greater number of the bill posters for U.K. titles will now grace the public spaces of the east Asian country.
Domestic industry figures also applauded the move. Miao Xiaotian, president of the China Film Co-production Corporation, said that the treaty is a "reason to celebrate."
