Film Industry

72.    Last year, I injected $200 million into the Film Development Fund (FDF) and implemented a series of measures to promote local filmmaking and encourage young people aspiring to a film career to join the industry.  The First Feature Film Initiative (FFFI) was relaunched last year to provide funding to budding directors.  The award winners of the first FFFI have completed their works, and I look forward to the screening of these three films.  As for the two pieces of winning work of the second FFFI, their production is under preparation.

73.    Locally-produced Cantonese films, a key component of the local culture, have all along been well-received by audiences in the Mainland and Southeast Asia.  Cantonese is a common dialect shared by Guangdong and Hong Kong.  The Guangdong Province has a population of over 100 million with box office receipts exceeding four billion Renminbi (RMB) in 2014, offering an extensive market for our locally-produced Cantonese films.  I shall inject an additional $20 million into the FDF to subsidise the expenses incurred by locally-produced Cantonese films for distribution and publicity conducted in the Mainland.  The funding is proposed to be increased from the current $250,000 to $500,000 per film.  This will assist the film industry in leveraging the enhanced measures under CEPA to promote Cantonese films to the Mainland.  The Hong Kong Film Development Council will announce the details in due course.