The deals keep flowing out of China. UK financier Ingenious Media (Brooklyn) today announced it has inked a $200 million deal with China’s Hejing Culture to co-finance a slate of indie films. Ingenious, which also co-financed Cate Blanchett-Rooney Mara love story Carol, made the announcement during the Shanghai Film Festival.
It comes two years after the UK and China agreed to a co-production treaty designed to encourage collaboration on film and TV production between the two countries.
“Ingenious has developed a reputation as a leading player in the global film and television industry over the last 18 years,” said Ingenious chief exec Neil Forster. “The global market for entertainment content is experiencing an exciting period of change – from the seismic shifts in individual consumer patterns to the unprecedented growth in China. Any long-term global growth strategy has to involve an alignment with the right kind of partners, and we couldn’t be more delighted to be working alongside Hejing to continue to bring high-quality entertainment to global audiences.”
Added Zhang Aiyi, CEO of Hejing Culture: “As a leading culture company under the SARFT system (Chinese state administration for radio, film and TV production), Hejing has played a very important role in saving traditional Chinese culture by editing and republishing some of the most distinguished Chinese books from ancient times. Now that we have collected and have ownership of such important Chinese stories and their associated rights, it’s time to go international and show the world the charm of Chinese content and Chinese story-telling. We’re so honored to launch this program of internationalization by partnering with Ingenious, a wonderful film company with an unbelievable track record. I truly believe we can co-develop some great western and eastern film and TV projects together.”