Chinese multinational technology giant Alibaba has pledged to inject HK$5 billion into Hong Kong’s entertainment sector to finance promotion to an international audience.
Hong Kong-made television dramas, films, events and training of young creatives will receive funding from video platform Youku, Alibaba Pictures and other businesses under the media arm of Alibaba, the company announced on Monday.
The five-year project, dubbed the “Hong Kong Cultural and Art Industry Revitalisation Program,” would concentrate on film production and distribution, rights acquisitions and television series production, a government statement read.
Kenny Ng, associate professor of the Academy of Film of the Hong Kong Baptist University told HKFP at the time that the new scheme may be more attractive to filmmakers who were already familiar with the complicated procedures of getting a green light from mainland Chinese authorities for a film to be released.
Those who were not familiar with the rules may need to rely heavily on middlemen, the scholar said.
Melissa Rivers reveals her unconventional approach to planning her second wedding
China to cut individual housing provident fund loan rates by 0.25 percentage points
Trump sees massive surge in the polls with surprise demographic: 'Truly historic'
Missouri candidate with ties to the KKK can stay on the Republican ballot, judge rules
Drew Faurot's 2 doubles and a homer lead Florida State past Georgia Tech 12
Trump, 78, suffers embarrassing wobble at Minnesota rally, with campaigners for 81 year
China auto association slams US protectionism in NEV industry
Xi leaves for state visits to France, Serbia, Hungary
The Los Angeles Rams will hold their training camp at Loyola Marymount University this summer
Trump sees massive surge in the polls with surprise demographic: 'Truly historic'
Andretti Global makes key engineering hire in bid to earn a spot in Formula 1
Bayer Leverkusen complete UNBEATEN Bundesliga season under Xabi Alonso as they beat Augsburg 2