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Budget Speech

Film Industry

56.    The film industry has long been a key element of Hong Kong's creative industries.  The vast Mainland market presents local filmmakers with unprecedented opportunities and big challenges.  In recent years, Government has been supporting production of small-to-medium budget films through the Film Development Fund (FDF).  Many of these films, such as "Echoes of the Rainbow", "The Way We Dance" and "The Midnight After", are critically-acclaimed box office hits with Hong Kong characteristics.

57.    I shall make a further injection of $200 million into FDF, enhance its funding arrangements and introduce a subsidy scheme for film productions with a budget not exceeding $10 million, subject to a subsidy ceiling of $2 million, to boost the volume of local film production and nurture film talent.  I shall raise the production budget ceiling of the Scheme for Financing Film Production from $15 million to $25 million.  To identify new talent for the film industry, Government will relaunch the First Feature Film Initiative with increased subsidies on production costs.



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