The Secretary for Culture, Sports and Tourism, Kevin Yeung, officiated at a press conference to announce the Hong Kong Cultural and Art Industry Revitalisation Program (the Program) of Alibaba Digital Media and Entertainment Group (ADME Group) today (March 11) during the Hong Kong International Film and TV Market (FILMART) at the Hong Kong Convention and Exhibition Centre. The Chairman and Chief Executive Officer of Alibaba DME Group, Fan Luyuan, and the President and Executive Director of Alibaba Pictures, Jerry Li, also attended as the organizer's representatives.
"We eagerly hope that ADME Group will work more closely with the film and TV industry of Hong Kong to develop new modes of cooperation and explore business areas, nurture new talent, and create rich and diversified content for film and TV, which will bring the development of our film and TV entertainment industry to the next level," Yeung said.
ADME Group announced that they would invest HK$5 billion in the development fund in the next five years and make Hong Kong their second base. The Program will focus on film production and distribution, rights acquisitions, TV series production, concert investments, collaboration with performance venues, talent development, etc. It will also work with leading local film and TV companies to co-produce films for cinemas, TV dramas, and dramas for streaming platforms.
The Culture, Sports, and Tourism Bureau is dedicated to organizing various events and actively participating in large-scale film festivals both on the Mainland and overseas through Create Hong Kong, thereby promoting the role and advantages of Hong Kong's film and TV industry, attracting Mainland and overseas corporations to expand their businesses in Hong Kong, and strengthening co-operation with the local film and TV industry in the production of quality content.
Invest Hong Kong also facilitates the program by assisting in setting up offices and starting businesses in Hong Kong, as well as arranging to participate in various networking events to meet the local trade and representatives of relevant associations.
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