Investing to settle in Hong Kong, obtaining Hong Kong immigration status can facilitate better business operations, which is the original intention for many people settling in Hong Kong. In fact, if you are doing business in Hong Kong, investing in the film industry is also a great choice!
John Tsang, Financial Secretary of the Government of the Hong Kong Special Administrative Region, stated in a recent blog post titled "Supporting Hong Kong Films" that the 2015 and 2016 budgets both introduced measures to support Hong Kong films, including successive capital injections of HK$220 million into the "Film Development Fund" to support the development of the Hong Kong film industry.
John Tsang said that the purpose of the budget's capital injection into the "Film Development Fund" is to attempt to increase Hong Kong film production and cultivate film talent. The additional HK$20 million injection this year is intended to increase subsidies for the distribution and promotion of local Hong Kong films in the Mainland, assisting them in utilizing CEPA to explore the Mainland market, especially the Guangdong province market with its population of 100 million.
John Tsang stated that, like other markets in the world, the development of the film industry is heavily influenced by market factors in addition to government policy support and departmental assistance. With the gradual opening of the Mainland film market, many local Hong Kong producers have chosen to enter the vast Mainland market, and even other overseas markets, with outstanding results.
John Tsang believes that it is gratifying for the Hong Kong film industry to have a broader stage, but as a film fan, he still longs to enjoy more Hong Kong films with local characteristics. The film industry is not only a major component of Hong Kong's cultural and creative industries, but Hong Kong films are also a symbol of Hong Kong culture and a powerful soft power exported to the world. A large part of Hong Kong's international image has been built through the efforts of generations of Hong Kong filmmakers.