XINHUA online
 Breaking News Philippine Catholic bishops not demanding Arroyo to resign     Flyover collapses in Malaysia, injuring 7 people     Referendum on EU constitution opens in Luxembourg     Some 20 killed, 30 injured in suicide bombing in western Baghdad     Suicide bombing at Iraqi army recruiting center causes casualties    Japan launches X-ray astronomy satellite    
  About China
  CPC & Other Parties
  State Organs
  Local Leadership
  White Papers
  Major Projects
  English Websites
- Conferences & Exhibitions
- Investment
- Bidding
- Enterprises
- Policy update
- Technological & Economic Development Zones
Source Manufacturers and Suppliers from China and around the world
   News Photos Voice People BizChina Feature About us   
HK film fund approves loan guarantee for new film
www.chinaview.cn 2005-07-10 20:14:17

    HONG KONG, July 10 (Xinhuanet) -- Hong Kong Film Guarantee Fund has approved 1.25 million HK dollars (160,256 US dollars ) in loan guarantee for My Way Film Company's "Shaolin Vs Evil Dead II."

    According to a government press release, Citic Ka Wah Bank agreed to provide 2.5 million HK dollars (320,512 US dollars) for the new film while the fund will guarantee 50 percent of the loan.

    This is the eighth approval since the fund was launched in April 2003. Total commitment for film productions is about 9.12 million HK dollars (1.2 million US dollars) so far.

    The fund provides loan guarantees to local lending institutions offering loans to film productions. The maximum guarantee for each film is 35 percent of the production budget or 2.62 million HK dollars (336,538 US dollars).

    In March, the Legislative Council approved relaxation of the fund's eligibility criteria. Production companies should have produced at least two films in the past 10 years for commercial release in Hong Kong before applying for guarantees under the scheme.

    The Hong Kong Special Administrative Region government has adopted a policy to promote cultural and creative industries.

    At present, cultural and creative industries account for only about 4 percent of HK's GDP, compared with 8 percent in Britain. Enditem

  Related Story
When stars are pregnant...
New Sudanese gov't leaders sworn in
Hsu Chi: irresistible beauty
- Presidential election opens in Kyrgyzstan
- Philippine church not demands resignation of Arroyo
- Luxembourg kicks off referendum on EU charter
- Rice says to make progress in 6-party talks "real issue"
- Al-Qaida recruiting college students in Britain: report
- US, Britain planning to withdraw troops from Iraq: report
- New Sudanese gov't leaders sworn in
- US frees 76 suspected Taliban in Afghanistan
- British police evacuate central Birmingham
- DPRK agrees to open 4th round of six-party talks
- Brazil's ruling party chief resigns amid corruption scandal
- Al-Qaeda responsible for London attacks: statement
- Pakistan: Osama could be anywhere including Afghanistan
- US frees 76 suspected Taliban in Afghanistan
- Al-Qaida secretly recruiting college students in Britain: report
- US, Britain planning to withdraw troops from Iraq: report
Copyright ©2003 Xinhua News Agency. All rights reserved.
Reproduction in whole or in part without permission is prohibited.