China Daily Asia Leadership Roundtable at Business of IP Asia Forum on Dec 03 (ENG)

For Immediate Release
PRESS RELEASE
Unveiling the Strategic Implications for the Chinese Mainland and
Hong Kong’s Film Industry under the “IP Era”
DEC 03, 2015, Hong Kong – More than 300 delegates from the global movie industry today attended the China Daily Asia Leadership Roundtable on “The Strategic Implications for the Chinese Mainland and Hong Kong’s Film Industry under the “IP Era”’, held as part of the Business of IP Asia Forum. China Daily has again teamed up with the Hong Kong Trade Development Council in co-organizing the session for such a significant event, riding on last year’s success.
China’s entire film industry is moving up the value chain trying to catch up with Hollywood and the rest of the world. On the Chinese Mainland, investment in the movie sector and box-office gross has grown by leaps and bounds in each of the past few years. The annual pace of growth in 2015 is more than six times faster than the nation’s 7% GDP growth rate. Intellectual properties (IP) development and protection is now considered strategic and critical for the success and survival of China’s film business.
The roundtable panelists shared their insightful views on the challenges and opportunities for China’s film industry in the “IP Era", Hong Kong’s strategic role in the nation’s film industry, as well as the collaboration between the Chinese mainland and Hong Kong in boosting the level of innovation, professionalism and consumer satisfaction in the movie industry.
Mr. ZHOU Li, Editorial Board Member, China Daily Group and Publisher & Editor-in-Chief, China Daily Asia Pacific stressed the indivisibility of IP and the film industry on both the Chinese mainland and in Hong Kong, as well as the potential of China’s movie sector as a whole. He extended a warm welcome to thedistinguished panelists, including Mr. Michael C. ELLIS, President & Managing Director of Asia-Pacific Region Motion Picture Association (MPA); Mr. Percy FUNG, Production Director, Digital Magic Limited; Mr. William PFEIFFER, Chief Executive Officer, Dragongate Entertainment Ltd; Ms. April YE, CEO of Film Finances, Inc. China and Mr. Jason GOLDBERG, Partner of Covington & Burling LLP, who shared their executive insights on the opportunities and challenges for the film industry of the Chinese Mainland and Hong Kong under the “IP era”.
Mr. Michael C. ELLIS gave an insightful analysis of the future development of the Chinese film industry. “There are over 700 films made in China every year, but only about 200 of them get released. It’s an incredibly competitive market. So, the IP that sits behind what you create and what you own is incredibly valuable,” he said.
Mr. Percy FUNG stressed Hong Kong’s key role in the development of the film industry, saying: “At this moment, Hong Kong’s movie industry is transforming. We are moving up ourselves to help China’s movies go out to the rest of the world.”
Mr. William PFEIFFER shared his valuable thoughts on the film business: “If content is the king, then I would say the story or the script is the father of the king, because without the story or script, you cannot have a good movie or TV show. And that has always been an area where China is lacking,” he said.
Ms. April YE said: “In the past five to ten years, Hong Kong has been a bridge between Hollywood and China, bringing Hollywood closer to the Chinese Mainland. In future, there are even greater opportunities for Hong Kong’s movie industry to work closely with that of the Chinese Mainland to bring Chinese movies to the world.”
Mr. Jason GOLDBERG shared his thoughts on IP development :“People are very aware of the value of IP in the film business right now, and I think the larger and more sophisticated motion picture studios in China want to make properties that they can use in different ways.”

About China Daily Asia Leadership Roundtable
The China Daily Asia Leadership Roundtable is a by-invitation network of movers and shakers in Asia providing platforms for focused dialogue, issue investigation, and possible collective action on strategic issues relating to economic, business and social development in Asia. Our aim is to enhance communication and increase mutual understanding between China, Asian and Western countries. Roundtable events are held in major cities across Asia. (www.cdroundtable.com)

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