Growing Chinese Film Industry

Huayi Brothers recently announced their plan to building East Asian’s largest indoor Film and TV Studio Complex in Jiading District, Shanghai. Named Huayi Brothers Culture City, the studio complex will follow the Universal Studios model, incorporating film studios, public tours and entertainment rides, according to The Hollywood Reporter.

Huayi Brothers is China’s leading independent TV and film production company, and is best known for producing domestic blockbusters such as Feng Xiaogang’s Aftershock, Tony Chan’s Hot Summer Days, and Stephen Chow’s Kung Fu Hustle. Huayi Brothers Culture City will begin construction later this year.

The new Huayi Brothers Culture City will be within three hours’ driving distance of China’s largest film studio to date, Hengdian World Studio in Zhejiang province. An official of Huayi Brothers said, “We feel the market is big enough to accommodate at least two studio facilities in the Shanghai area.” Last year, Chinese box office experienced a growth of 64%, reaching $1.53 billion in total gross.

Chinese Film market is thriving at an astonishing speed. Soon, it will become one of the largest film markets of the world. Huayi’s move proves that huge potential is seen within the China film industry, both in production and consumption. At the moment, Chinese viewers’ average spending on going to theatres is far behind those of US audience, however, with the rise of upper-middle class and young people with extra cash to spend, I think the future of the Chinese industry is extremely promising.