Posts Tagged ‘Hong Kong’

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From Westerns to Dance Dramas, U.S. Filmmakers Pitch Their Projects to Chinese Investors

April 2, 2014

Marsha McDaniel is a Commercial Officer at the U.S. Consulate for Hong Kong and Macau.

Our team met with U.S. film producers and Chinese investors at Hong Kong Filmart to support investment.

Our Commercial Service team met with U.S. film producers and Chinese investors at Hong Kong Filmart to support investment in upcoming projects.

What do cowboy shows, hip hop dancer dramas, and adventure thrillers have in common? These are some of the exciting projects that U.S. filmmakers pitched to Chinese investors during SelectUSA’s debut at Hong Kong’s Filmart, Asia’s largest film and media trade show and the third largest film industry trade show in the world.

Commercial Service staff at the U.S. Consulates in Hong Kong and Guangzhou jointly organized this first-ever SelectUSA event at the trade show. The event, which was titled “China’s Pearl River Delta: Opportunities to Finance U.S. Productions” introduced investors to some of the exciting projects that U.S. filmmakers are currently developing.

A Captivated Audience

Five independent U.S. production companies presented a broad range of film projects to a captivated audience of roughly 30 investors. Audience members were clearly excited as U.S. filmmakers pitched numerous movie and television ideas, all with significant revenue potential.

According to Scott Shaw, Senior Commercial Officer at the U.S. Consulate in Hong Kong: “It is an exciting time for U.S. and China movie producers to work together as U.S.-China co-production benefits both the U.S. and Chinese film industries.”

Jim Rigassio, Principal Commercial Officer at the U.S. Consulate in Guangzhou, China, noted: “From a diplomatic perspective, activities such as this help to bring our two countries closer together, and I hope to see more U.S.-China coproduction in the future.”

Filmmakers: Opportunity to pitch in 2015

Based on the fantastic feedback from participants, Commercial Service teams in Hong Kong and Guangzhou will explore hosting a similar event at the 2015 Filmart show in Hong Kong. U.S. filmmakers with an interest in seeking investment and co-production opportunities are encouraged to get in touch with our Commercial Service staff to learn more.

This was the first of many events that will be organized under the Commercial Service’s Pearl River Delta Initiative, which aims to assist U.S. companies tap into south China’s $1 trillion dollar economy.

How else can we help you?

SelectUSA, along with our teams in Hong Kong and Guangzhou, work with investors and U.S. economic development organizations to facilitate investment into the United States. We provide information and counseling, help you connect to the right people, and serve as an ombudsman to resolve issues related to the federal regulatory system. We also create platforms, such as our upcoming Pearl River Delta Road Show, to bring investors and economic developers face to face.

If you have questions about foreign investment or if we can help you at all, visit the SelectUSA website for more information!

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Exporting Entertainment to China and Asia-Pacific: It’s a Wrap!

April 25, 2013

This post contains external links. Please review our external linking policy.

Andrea DaSilva is the Senior Media & Entertainment Analyst for the International Trade Administration.

The Hong Kong Trade Filmart attendees gather around the U.S.A. pavilion.Development Council recently hosted Filmart, the third largest film industry trade show after Cannes and American Film Market in Santa Monica, Cali.

U.S. exhibitors secured film licensing and distribution deals to the tune of $8 million and counting, supporting American exports and bringing some of our most creative exports to new audiences.

U.S. Secured 175 Licensing Deals Worth $8 Million

The International Trade Administration and the Independent Film and Television Alliance co-sponsored the American Pavilion as part of the Market Development Cooperator Program, with cooperation from the Pacific Bridge Initiative.

Buyers from around the region came to purchase U.S. filmed entertainment, which is nothing new; American movies continue to be in high demand globally. China’s State Administration of Radio, Film, and Television reports that seven of the top ten films in China last year were American.

Hong Kong Filmart provides an ideal gateway to reach China and Southeast Asia, especially for small and independent businesses based in the United States who can’t afford to hang their shingle in China.

China’s Film Industry – Expanding Rapidly

China’s entertainment market is growing, and with it demand for new content. Hollywood studios and small producers alike are increasingly partnering with Chinese industry or governmental bodies to bring U.S. films to the Chinese market.

PThe U.S.A. pavilion at Filmart 2013 in Hong Kong.roduction houses like Dreamworks, Marvel Comics, Warner Brothers, Relativity Media, and Legendary Pictures, to mention a few, all have joint projects with Chinese partners and their presence in China is contributing to the development of the country’s film and animation industries, while also increasing U.S. exports. It’s a dramatic shift from past decades when the doors were closed for business; the U.S. industry has a solid foot in the door today.

China’s Box Office – Exploding

China boasts the second-largest box office revenues worldwide at $2.7 billion in 2012, a 30.2 percent increase over 2011. Foreign films accounted for 52.4 percent of box office ticket sales in the country last year, but constituted only about a quarter of the 303 movies screened in Chinese theaters.

These exports aren’t just good for the film industry, they help support one of our most creative industries and help support American jobs.

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Independent Film Targets China and Asia-Pacific via Hong Kong Filmart

May 22, 2012

Andrea DaSilva is a senior analyst for Media & Entertainment Services and a Project Manager for the MDCP award with IFTA in the International Trade Administration. Fanny Chau is a Commercial Specialist at CS Hong Kong and manages Filmart for ITA.

The U.S. film industry has been making inroads in Asia, and in 2012, with the ground breaking U.S.-China Film Agreement, took a quantum leap forward. China promises to increase the 20-film quota by 65 percent, and to make the process of bringing American-made movies to the Chinese market more transparent. This is great news for the independent sector, which has a competitive advantage in 3-D and digital formats covered under the new quota. 

Commercial Service and Hong Kong Trade Development Council staff at the booth during Hong Kong Filmart

Commercial Service and Hong Kong Trade Development Council staff at the booth during Hong Kong Filmart

Major U.S. film studios and independents alike are eager to expand market access to China, beyond co-productions that limit ownership and earnings. On the tail of this announcement, the Hong Kong Filmart, a major film and television trade event, took place from March 19-22. Hong Kong has been referred to as the “Pacific Bridge” to the Chinese market, underscored by the annual Filmart, which in 2012 attracted more than 5,800 buyers and nearly 650 exhibitors from 33 countries.  The International Trade Administration (ITA) has championed the U.S. presence at Filmart for a decade, and in 2011 launched the first American Pavilion.

This unique collaboration includes the Independent Film & Television Alliance (IFTA) and the International Trade Administration through Market Development Cooperator Program (MDCP) funding, as well as the Pacific Bridge Initiative (PBI), an arrangement initiated by the Commercial Service in Hong Kong and the Hong Kong Trade Development Council (HKTDC).

Building on last year’s successful introduction of the American Pavilion, with IFTA as host, ITA staff from Hong Kong, Washington, Los Angeles, and 10 regional economies in Asia rallied behind the largest U.S. showing yet at Filmart. The regional ITA specialists played a significant role and recruited 200 potential buyers, representing Singapore, Thailand, China, Taiwan, Indonesia, India, Vietnam and other countries in the region. IFTA brought a mix of 40 independent production and distribution companies, including film and television agents to exhibit at the American Pavilion. Commercial Service Hong Kong and IFTA facilitated business meetings between the buyers and the American exhibitors.

As a result of this concerted effort, more than 200 deals worth nearly $9 million were completed, and the deals are still rolling in. Total U.S. exhibitor numbers were up by 40 percent from the previous year, attesting to the success of the Pavilion and the combined efforts across ITA’s foreign and domestic posts.

Commercial Service Hong Kong was instrumental in the overall success of the Pavilion, and with regional and U.S.-based staff, provided market research, export counseling, and the collection of export successes from each Pavilion exhibitor, in a truly collaborative effort. Consul General Stephen Young, together with the show organizer HKTDC and the PBI, hosted a networking reception exclusively for the U.S. exhibitors. 

MDCP partnerships support projects that enhance the global competitiveness of U.S. industries. They also recognize the ability of trade associations and non-profits to support small and medium-sized businesses to compete globally. MDCP partners pledge to fund a minimum of two-thirds of the project cost and to sustain the project after the MDCP period ends. On average, between 1997 and 2011, every dollar invested in MDCP projects generated $211 in exports.

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Hong Kong Trade Agency Recognized for Support of U.S. Exports

November 1, 2011

By Tim Truman, a public affairs specialist in the International Trade Administration’s Office of Public Affairs.

On October 18 in Hong Kong, Fred Lam (center), executive director of the Hong Kong Trade Development Council, was presented with the Peace through Commerce Award by Francisco Sánchez (right), under secretary of commerce for international trade. He was accompanied by Andrew Wylegala (left), senior commercial officer in Hong Kong. (U.S. Department of Commerce photo

On October 18 in Hong Kong, Fred Lam (center), executive director of the Hong Kong Trade Development Council, was presented with the Peace through Commerce Award by Francisco Sánchez (right), under secretary of commerce for international trade. He was accompanied by Andrew Wylegala (left), senior commercial officer in Hong Kong. (U.S. Department of Commerce photo

Fred Lam, executive director of the Hong Kong Trade Development Council (HKTDC) was presented with the Peace through Commerce Award in recognition of his organization’s support of U.S. exports through the Pacific Bridge Initiative (PBI). The award was made by Francisco Sánchez, under secretary of commerce for international trade, at a ceremony in Hong Kong on October 18, 2011.

“I’m proud to honor Fred Lam today for his decades of service and his pioneering efforts with the groundbreaking Pacific Bridge Initiative,” said Sánchez. “The PBI has been a win-win collaboration for America and Hong Kong. It’s helping us to achieve President Obama’s National Export Initiative goals, and supporting Hong Kong’s efforts to be the pre-eminent commercial platform for this dynamic part of the world.”

The PBI was introduced in 2010. It aims to leverage the existing U.S.-Hong Kong trade relationship to explore new markets, particularly in Asia and China, in support of the National Export Initiative (NEI). Through it, the HKTDC became the first government body outside the United States to promote the NEI on a bilateral basis. Since its inception, the PBI has helped triple the number of export transactions to Asia by new-to-market U.S. firms.

RELATED: Pacific Bridge Initiative

The Peace through Commerce Award is a medal given to recognize an individual, group, or organization, either domestic or foreign, whose actions have significantly promoted and developed U.S. export initiatives, encouraged innovative approaches, and improved overall U.S. trade relations. It dates back to the first secretary of state, Thomas Jefferson, who commissioned the medal in 1790. Then known as the Diplomatic Medal, Jefferson awarded it to foreign diplomats who aided the Continental Congress during the American Revolution.

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Pacific Bridge Initiative

October 20, 2011

This post contains external links. Please review our external linking policy.

Tim Truman is a senior public affairs specialist in the International Trade Administration’s Office of Public Affairs.

The Hong Kong Trade Development Council (HKTDC) posted a video that features Under Secretary for International Trade Francisco Sánchez sharing his views on the important role that Hong Kong plays as a platform for U.S. firms conducting business in the Asia-Pacific region. The video includes footage of the ceremony where Sánchez presents HKTDC Executive Director Fred Lam the Peace Through Commerce Award recognizing his efforts to launch the HKTDC’s Pacific Bridge Initiative (PBI). The PBI aims to facilitate U.S.-Hong Kong partnership to explore new markets, particularly in Asia and China, in support of President Obama’s National Export Initiative (NEI). Through the PBI, the HKTDC became the first statutory trade body outside the United States to promote the NEI on a bilateral basis. Since its inception, the PBI has helped triple the number of export transactions to Asia by new-to-market U.S. firms. “Its first-year success has led several other trading partners to consider ‘Bridge Initiatives’ for their own regions,” Sánchez said.

Watch the video on YouTube.

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