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UK secures historic film co-production agreement with China

uk-china-film-production-treaty-2015
The UK’s Culture Secretary Sajid Javid has announced the official ratification of an historic film co-production treaty with China.

Signed at the Great Festival of Creativity in Shanghai, the new treaty will open up a whole new market for UK-China co-productions and bypass the current limits set in China on foreign domestic titles (Currently 34 a year).

The Department for Culture, Media and Sport along with UK Trade & Investment backed the new deal, negotiated by the BFI, China’s Film Bureau and China Film Co-production corporation.

Qualifying productions under the new agreement will have access to finance and simpler regulations in both countries while UK film producers will also be able to apply for the BFI Film Fund and Film Tax Relief.

The Culture Secretary announced the ratification at a launch event, attended by 200 business leaders:

“The UK and China are home to two of the biggest and best film industries in the world..Together Britain’s creative industries are worth almost £80 billion to our economy, almost three-quarters of a trillion yuan, or about five per cent of the UK’s GDP. China has a similar success story to tell. After a period of unprecedented growth, the creative sector here now contributes 3.6 per cent of GDP.

This treaty is a breakthrough for UK and Chinese production companies. It will pave the way for UK producers and their Chinese counterparts to share their creative expertise and make incredible films that will be enjoyed around the world.”

BFI CEO Amanda Nevill and Miao Xiaotian, President of the China Film Co-production Corporation praised the new deal.

Amanda Nevill: “This film Co-Production Treaty represents a hugely significant moment for UK film and opens the door to a relationship with the largest growing film industry in the world, allowing our filmmakers to collaborate with and contribute to this success story. I’m very excited by the opportunities for growth and shared success, both creatively and commercially, that this treaty presents for the UK and China.”

Mr Miao Xiaotian “The British and Chinese film industries have reason to celebrate the signing of the Sino-UK Film Co-Production Treaty, which is now effective, by the two countries’ governments.”

The UK is currently experiencing significant growth in the film industry with record demand in the film production business.

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