Film quality, not capital, decides success

The cultural industry, including the film industry, has been attracting increasing amounts of capital from other industries. But more money does not necessarily translate into more good contents.

Film production is one of the most capital-intensive businesses. Fifteen film companies have been listed since Huayi Media Group, the largest private film company in China, went public in 2009. The new funding the industry has raised from the capital market has fueled its nearly 30 percent annual growth in the last few years. Still more companies are expected to join the race for funding, as China Securities Regulatory Commission figures show at least 10 other film and TV companies are waiting to be listed this year.

The flow of capital has, no doubt, stimulated the development of movies both in terms of number and quality. Last year can be considered a turning point for the domestic film industry, because Chinese films accounted for 58 percent of the 21.7 billion yuan ($3.6 billion) box office returns, up from 48 percent in 2012.