Shooting for the top

(China Daily)
Updated: 2009-11-03 10:38

Hengdian Film Industrial Park, the film and TV location in Zhejiang province, last week signed contracts with China Construction Bank and Bank of China to provide more support for the companies that shoot films or TV there.

China Construction Bank provided a 200 million yuan ($29 million) credit line to Huayi Brothers Media Corporation; while Bank of China lent 300 million yuan to Hengdian Group Entertainment.

Zhang Peimin, vice-president of the State Administration of Radio, Film and Television, the top regulator of the industry, has suggested that Hengdian builds its own brand instead of aspiring to be "China's Hollywood".

Hengdian's strategic cooperation with the two banks follows on the heels of the Chinese government's call for culture industry enterprises to boost their size and quality of products for domestic consumption.

Founded in 2004, Hengdian has become the most popular film location base in China. It was the set of many popular film and TV works such as Mummy 3 and Hero (Yingxiong).