Russian, Chinese firms create fund for joint venture in filmmaking

09:13, May 27, 2011      

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Russian media group Mass Media System and Chinese company Huawei will create a joint annual fund of 50 million U.S. dollars for investment in joint-venture film production, local media reported recently.

Among the announced funding projects are a feature film "The Squadron" about heroic stories of Soviet and Chinese pilots in the 1950s, a documentary about the lives of late Chinese Communist Party Chairman Mao Zedong (1893-1976) and the Chinese leader Deng Xiaoping (1904-1997), as well as a full-length children's movie "The Scarlet Flower."

Ten creative projects will be funded at first, and then increase to 20 each year in the future.

The fund was prescribed by an agreement on the development of Russia-China cultural relations aimed to support joint-venture projects between the two countries' filmmakers.

Source: Xinhua
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