MCLC: Chinawood

[Denton, Kirk]

MCLC LIST
From: kirk (denton.2 at osu.edu)
Subject: Chinawood
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Source: The Guardian (5/1/12):
http://www.guardian.co.uk/film/2012/may/01/china-hollywood-film-studio-chin
awood

China to build $1.27bn Hollywood co-production film studio
Chinawood, a new film-making centre outside Tianjin, will service
co-productions between the US and China
By Andrew Pulver

The US and Chinese film industries took a significant step towards each
other with the announcement of the Chinawood Global Services Base
<http://www.variety.com/article/VR1118053284>, a multi-million-dollar
movie-making centre to be constructed in partnership with the Chinese
authorities.

Chinese studio boss Bruno Wu, of Seven Stars Entertainment, has secured
the help of the government of the Binhai New Area, Tianjin to build
Chinawood, which represents a $1.27bn investment for a complex that will
ultimately total 8.6m square feet on completion (It will still have some
way to go to beat the 35.5m square feet of the world's largest film
studio, Hengdian, also in China <http://www.guardian.co.uk/world/china>.)

Chinawood's main aim will be to service co-productions between Hollywood
and China ­ a move that will no doubt be popular among US producers, to
get around China's strict quota regulations.

Over a third of the Chinawood investment represents a financing fund to
kickstart production, and the centre will also contain post-production
facilities and a dedicated 3D conversion centre.

In a statement, Wu said that the East Asian film market was catching up
with North America's, and was "on course to be worth $10bn by 2015".

"This project is a significant step towards closing that gap by providing
expertise and facilities in all areas."
The first part of the studio is due to open in October 2012.