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Is it worth to spend 10 billion yuan building 'Chinawood'?

(People's Daily Online)

14:35, July 16, 2012

The view of Wuxi National Digital Film Industrial Park(wxstudio.net)

Shi Juan, general manager of Jiangsu Chinawood Investment and Development Company, has been busy lately receiving the managers of many film production companies, in the Wuxi National Digital Film Industrial Park 150 kilometers away from Shanghai, a major film production hub in China.

The Wuxi National Digital Film Industrial Park, also known as "Chinawood," opened on May 29. Covering an area of 6 square kilometers, the Wuxi film industrial park is designed to become an international digital film industry base integrating film shooting, production, distribution, and trading and focusing on digital film shooting and post-production.

"Our short-term goal is to develop it into an influential film industry base like the Huairou film production base," said Zhu Weiping, Party chief of Wuxi's Binhu district, where "Chinawood" is located.

Doubts

With over 80 percent of domestic film production bases suffering losses, is "Chinawood" another redundant or vanity project?

On March 16, the State Administration of Radio, Film, and Television (SARFT) and the Jiangsu provincial government signed a strategic cooperation agreement to invest 10 billion yuan establishing a state-level film industry base in Wuxi. The annual output of the industry base is expected to reach 20 billion yuan in three to five years.

The staggering 10-billion-yuan investment has placed "Chinawood" under fire since its announcement. There are already more than 1,000 film production bases in China, over 80 percent of which are operating at a loss. In such a situation, people cannot help suspecting that "Chinawood" is yet another redundant or vanity project.

Wei Pengju, executive dean of the Institute of Culture and Creativity at the Central University of Finance and Economics, said that there is no need to waste scarce land and capital on "Chinawood" amid China's economic slowdown.

However, "Chinawood" staffs do not agree. According to employees at the industrial park's administrative department, the 10 billion yuan is the total planned investment, and the amount was carefully calculated after market research. Most of the money will be used to build the park and buy various equipment and facilities.

About 60 film production companies, including some famous companies, have settled in "Chinawood."

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Email|Print|Comments(Editor:叶欣、姚春)

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a at 2012-08-23111.192.249.*
Chinawood is the wrong translation, it just means wood. and all the websites of " Chinawood " have nothing to do with movies, as all the chinese people know, the correct translation is known as Huallywood . Huallywood is the only correct translation of chinese movie industry. "The United States has Hollywood. India has Bollywood. Why not a "Huallywood" across the Strait?"
  

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