Waiting for the big time

Comment

More than anything, the past decade has proven that competition is good - not only for the industry behemoth that threatens to crush anyone in its way, but also for the small contenders with ambitions and a good game plan.

Before the big, bad wolf of Hollywood came howling at the Chinese market, the Chinese film industry was so anemic many had ruled it out as an unviable business. Instead of sucking the last drop of blood from it, the so-called Hollywood blockbusters reinvigorated it. It was a fine point few would emphasize in the hurray for box-office surge, but industry insiders freely admitted it when they confided in me.

However, my faith in the free market does not preclude my understanding that some form of protection is necessary during the initial period of opening up. If you put a Chinese film head to head with a Hollywood offering, the local product has little chance of survival. Right now, Hollywood imports are positioned to bump up the total tally of the annual box-office figure without permanently damaging the prospect of domestic releases. There are whispers that some local fare is deliberately scheduled for the same time slots as foreign juggernauts to ensure a clean and fast demise.

Chinese cinema needs time and space to grow up. A controlled environment with growing competition - both foreign and domestic - is the best. Just like flowers, the seedlings need a greenhouse, but they eventually have got to move out and face the wrath of the elements. It is up to debate when this big move should take place, but I believe it should be phased in.

With a few exceptions, Chinese filmmakers have given up - for the time being - on the global market and shifted focus on the growing domestic audience.

Winning the home clientele is the best way to beat Hollywood as it has to take into account a much more diverse array of market needs. Hollywood may have its advanced technologies and capital infrastructure, but it cannot keep pulse of the ever-changing vibes in China. It has to be generic to have appeal across the world.

As it stands, the biggest threat for Chinese cinema is not Hollywood, but irrational exuberance that stems from the dizzying rate of box-office growth. Money from all sources is pouring into the business, and much of it carries a lack of sophistication associated with professional financing. As a result, big-budget failures have been a frequent occurrence. Salaries for stars, not just A-listers, have been skyrocketing, planting a ticking bomb within the industry that may explode with an inevitable downturn.

Censorship is another occupational hazard, potentially more lethal than the suspicious capital that chases girls rather than profits. It puts Chinese filmmakers in invisible shackles even before they can strut their stuff and win over a global audience. Long term, it clips their wings of imagination and curtails their power for any creative industry.

Other obstacles include both market forces and administrative follies. Increasing rent for theaters and over-taxation are choking the business. Occasional reports of "box-office reshuffle" (recoding receipts for some movies to others that do not register sale) tend to undermine public and investors' confidence. Only with fair competition will China's film industry become a world giant.

China Daily

(China Daily 12/09/2011 page59)