Wong Kar-wai Awards Backing to 33 Million Hong Kong Movie Revival Plan

Famous filmmakers Wong Kar-wai, Peter Chan Ho-sun, and Derek Yee are one of the very best directors that have vowed to pass their abilities and expertise to the young generation. They’re a part of a $12.9 million (HK$100 million) government-funded initiative to improve Hong Kong’s movie business, after damage in the coronavirus pandemic and continuing political chaos.

Approximately 10 to 12 jobs are anticipated to be accomplished this way.

The program is one of the five steps totaled $33.5 million (HK$260 million) rolled out on Monday. Commerce secretary, Edward Yau said local movie production and investment have shrunk over the last year, hit from the COVID-19 pandemic and the protests that started last June.

Cinemas were shut for six months from March into mid-May, along with the land’s box office receipts dropped by over 70 percent in the first half of 2020. Coinciding with six months of political protests, the box office also fell 10 percent in the next half of 2019.

Over $1.05 million (HK$8 million) was allocated into a scriptwriting incubation application that’s anticipated to create 40 screenplays. The authorities will boost its funding for jobs through the Film Production Financing Scheme, which will allow investors who co-finance the jobs to recoup their investments. It is going to also launch its financing before, around a total of $12.9 million ($100 million) for at least 10 film productions.

Funding will be awarded to guilds to arrange training programs for other business professionals. And to raise the production budgets of award-winning jobs below the First Feature Film Initiative, today its sixth edition.