Deals Worth $429 Million Signed at Inaugural Beijing Film Festival Market
BEIJING – Organizers of the film market at the 1st Beijing International Film Festival said deals valued at nearly 2.8 billion yuan ($429 million) were completed in the three days of the state-run event ended Wednesday after what some guests called a messy start.
The Beijing Film Market, which began Monday, attracted 334 film companies and 860 registered industry professionals from around the world, organizers said.
Foot traffic was steady in and around the film festival, which ends Thursday, and at the concurrent market events, spread across several participating hotels. Most guests were Chinese attending industry forums featuring visitors from more mature movie markets.
The number of Hollywood visitors to China has risen steadily in recent years and peaked in recent months since the domestic box office gross ticket sales rose 64% in 2010 to hit $1.5 billion, making it the fastest growing movie market in the world.