Greenlight for UK China co-production treaty
A landmark film co-production treaty between the UK and China has now, after a process of ratification, been firmed up with immediate effect.
The UK's Culture Secretary Sajid Javid announced the deal at the GREAT Festival of Creativity; the negotiating parties included the BFI, with China Film Bureau and China Film Co-production Corporation with support from the Department for Culture, Media and Sport (DCMS) and UK Trade & Investment in Beijing.
The treaty essentially allows qualifying co-productions to take advantage of each country's financing resources, such as the UK's Film Tax Relief Fund and the BFI Film Fund, as well as making the route to distribution a little easier.
Perhaps even more significantly, the deal allows all eligible co-productions to be shown in China, which represents a potential increase on the current 34 non-domestic titles permitted to be shown each year.
Javid (pictured) said of the arrangement:Â "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 Â£80bn 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."
Miao Xiaotian, president of the China Film Co-production Corporation, said: "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 signing of the Sino-UK Film Co-Production Treaty heralds the start of a new era in collaborative film production between the UK and China. I have reason to believe that it will open the way for broader cooperation between our respective film industries. We can look forward to a future of integrated development and win-win cooperation."
Amanda Nevill, BFI CEO, had this to say: "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."
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