On December 13th, the 2019 China Cultural Finance Summit co-sponsored by Wudaokou School of Finance, Tsinghua University, Beijing Dongcheng District Committee, and Beijing Dongcheng District People’s Government was held in Beijing. Zhang Hong, Secretary of the Party Group and Vice Chairman of the Chinese Film Association Attend the summit and deliver a keynote speech. The following is the full text of the speech, with slight deletions.
is very happy that Tsinghua Wudaokou Institute of Finance and Dongcheng District can give me such an opportunity to learn from everyone here. I am working in film and television, and I will report to you some experience on how to combine film and television with finance.
We know that movies are the business card of a country. Premier Zhou Enlai once said that movies are ambassadors in iron boxes. Finance is the lifeblood of a country’s economy, as well as the blood of a country’s economy, so I said the combination of film and finance is to handle the relationship between business cards and blood. Handle the relationship between the ambassador and the blood.
As the world's number one power, the United States has a relatively large influence in the world, I think it has the four pillars of , .
first, American military represented by West Point Military Academy;
second, American Technology represented by Silicon Valley;
third, American Finance represented by Wall Street;
fourth, It is American film and television culture represented by Hollywood.
Therefore, today we are discussing the relationship between finance and film and television culture. I think this is also a particularly hot topic.
Let me report to you the situation of Chinese films this year.
Let me talk about some data first. As of December 6, the box office of movies exceeded 60 billion yuan, which was 57.029 billion yuan in the same period last year, an increase of 5.2%. The number of movie viewers was 1.619 billion, compared with 1.614 billion last year, a year-on-year increase of 3.1%. Among them, 80 films have a box office of over 100 million, and 41 domestic films; 15 have a box office of over 1 billion, and 10 of the 15 films are domestic films, accounting for 67%. The top ten films in 2019 so far include "Nezha: The Devil Boy", "The Wandering Earth", "Avengers 4: Endgame", "My Motherland and Me", "Captain of China" "Crazy Aliens", "Flying Life", "Heroes of Fire", "Young You", "Speed and Passion: Special Operations", eight of the ten films are domestically produced. These are the films before the end of December. These films have all been screened. It is estimated that the national box office will be between 63 billion and 64 billion this year. There is such a preliminary estimate.
Through this data, we can see that Chinese movies show several characteristics.
First, the policy is getting better and better.
The "Film Industry Promotion Law" was implemented in 2017, the "Opinions on Accelerating the Construction of Cinemas to Promote the Prosperity of the Film Market" were issued in 2018, and the "Opinions on Deepening the Comprehensive Reform of the Film Industry to Promote the Healthy Development of my country's Film Industry" in 2019. Based on the central government's policies, localities have also formulated their own policies, such as Beijing, Shanghai, Tianjin, Zhejiang to build China's film and television sub-centers, Shandong Qingdao to build a film and television cultural industry, and Xiamen also issued some local policies of its own.
Second, we can see that the quality of creation is constantly improving.
We used to think that in terms of the quality of the film, there was still a certain distance from some world powers. There are several notable films this year. We have seen the domestically produced films "Nezha" and "Nezha" have reached the second largest box office in China's history. This is a big breakthrough for Chinese cartoons. "The Wandering Earth" is also a major breakthrough in Chinese science fiction films, as well as this year's National Day archives "Me and My Motherland", "Captain of China", "Climbers", and "Heroes of Fire". These films have highlighted the Chinese spirit and Chinese values. Compared with the Hollywood films of the same period, these films are not inferior at all, and many box offices have surpassed Hollywood films.
Third, the market returns to rationality.
The cultural finance investment and financing report published by Tsinghua University just now mentioned that there were more hot money in 2015 and 2016. We have seen that 1,884 film and television companies across the country have closed from 2019 to now. The market and capital gradually returned to rationality. Behind the more than 50 films in the Lunar New Year archive in December, more than 300 companies participated. Among them, 14 films are co-produced by more than 10 co-producers. In the past, the Beijing Film Studio and August 1stFilm studios, Changchun Film Studios, and Xi’an Film Studios only produce one movie. Now, before a movie comes out, there must be more than a dozen producers. This is also the risk of risk in the development of the film and television industry. Apportion. The era of rushing money has passed, the era of catching the eye-catching IP has passed, and the era of the film and television industry getting rich overnight, so the capital and the market need to be rational.
Fourth, I think the development of Chinese film in recent years is the best in history, and you can see the continuous emergence of new directors.
Many years ago, when you watched a movie, whose movie you only wanted to watch? China's four major directors Zhang Yimou, Chen Kaige, Feng Xiaogang, Jiang Wen, this is the vane of our film. At present, six of the top ten box office films in China's rankings are all young directors. Like Wu Jing's "Wolf Warrior", Dumpling's "Ne Zha", Guo Fan's "The Wandering Earth", Chen Sicheng's "Chinatown", etc., a large number of young directors stand out. The development of Chinese film is full of stamina. In addition, watching Han Deng's literary and artistic films is also favored by international and domestic film festivals.
also encountered some bottlenecks in the development process.
First, there is still a lot of distance between the current creative quality and the audience’s expectations:
Although our film market is relatively good, I often hear many comrades tell me that I generally seldom watch domestic films. Watching Hollywood movies. This concept has not been changed, of course, it also shows that the quality of our film and Hollywood still have a certain distance.
Second, industry governance and market regulations are relatively extensive:
Minister Liu also mentioned that in terms of investment management, more regulations should be strengthened. I also have a deep understanding.
Third, there is a lack of high-quality talents:
knows technology, art, communication, and the rules of international communication. Such producers and directors are still lacking.
Fourth, international influence needs to be improved urgently:
American Disney Company has a global box office of 11 billion U.S. dollars a year, and our nation’s movie box office adds up to 9 billion U.S. dollars. It can be seen that a Disney company's box office is more than our national box office, and our international box office performance is not many movies, which is a few bottlenecks.
I have some thoughts on the development of film. I think it is the right time for financial capital to invest in the film industry.
First, our country’s per capita income of national production reached US$9732 in 2018, close to US$10,000.
10,000 US dollars, when the average per capita in any country reaches 10,000 US dollars, there are several phenomena:
, for example, when the United States was 10,000 US dollars, the national film and television companies were concentrated in Hollywood, and the United States developed at 10,000 US dollars. "Game of Thrones", at the time of 10,000 US dollars, there were queues for art exhibitions across the country, and cultural consumption was particularly enthusiastic.
A phenomenon-level movie appeared when Japan was 10,000 US dollars, and there were also many auctions that were particularly enthusiastic, and everyone went to collect foreign wine bottles.
When Germany developed to 10,000 US dollars, the sports industry, Formula One technical competition. China has just exceeded $10,000 this year. This is a very good opportunity for the cultural industry to develop the film and television industry.
Second, the film industry chain still needs to be improved.
Now 85% of our country’s film revenue is box office revenue, and derivatives only account for about 15%. I still take Disney as an example. Although Disney has reached 11 billion U.S. dollars in box office revenue, it only accounts for about 15% of Disney's box office revenue. Therefore, I think that movie-derived copyright income, movie game income, movie image authorization, especially theme parks and theme parks with movie elements as the core, have a particularly large space for development. The industry chain of the film industry in China only focuses on investment in film and television content, because there are still many opportunities in this industry chain.
Third, when the economy is down, investing in the film industry happens to be a particularly good opportunity.
We know that when the United States encountered an economic crisis in the 1930s, it was precisely when Hollywood made great progress. We call it the "lipstick economy". Sometimes the economy develops and lipsticks sell better, movie tickets sell better, and beer sells better.Travel is better. Maybe everyone feels very cautious about the money to buy a car and the money to buy a house, but on the contrary, small consumption has been improved. At this time, the development of the cultural industry and the film and television industry is a particularly good opportunity.
Let’s think about how we can design some financial products that meet China’s national conditions for Chinese movies.
The combination of finance and film is the expectation of many filmmakers as well as the expectation of many financial workers. As a film worker, I have worked in the film and television industry for many years. I always feel that everyone has an idea. It is difficult to integrate. Sometimes there are often two skins. At present, the combination of finance and film and television industries is mainly manifested in two ways: equity investment and project financing. There are not many ways to invest in financing.
I think the current investment direction of the integration of finance and film and television should still focus on the following aspects:
is the first, or content is the core.
Content is always the essence of the film and television industry. Our content must express Chinese values, Chinese spirit, Chinese feelings, and Chinese aesthetics. This is the core competitiveness of Chinese culture based on world culture, and it is also an expression of four self-confidence.
So, now our box office is relatively good, showing that in the film and television creation investment, content production has reached a certain level. However, our content production must not only meet the needs of the people in China, but Chinese film and television must also go global. Therefore, there is still a lot of room for improvement in content production and filming in this aspect. By the end of this year, there are only 63 billion. Many people estimate that the box office of Chinese films is between 300 and 400 billion, which is a completely achievable figure. It is entirely possible to increase content production by seven or eight times. I think the investment direction and content production are still the core of the film.
Second, our investment should be based on the Internet of film and television content and the cultural tourism industry as a new growth pole.
We know that China's film industry has developed rapidly in recent years, and I think it has a lot to do with the development of the Internet. When I was young, I used to watch a movie on a small bench in a village, once a month. Later in college, we watched the evening paper and watched movies in the news. Now everyone can open our mobile phones on their mobile phones when watching movies, what kind of movies are there when and where, and what is the current movie reservation situation? In the same way, you can see how the box office is going. In recent years, iQiyi, Alibaba, Tencent, Youku, etc. have developed very fast. I think the combination of the Internet and movies is a great growth pole in the future. We still have a lot of room for investment in this area.
In addition, the combination of film and television and tourism is also a new growth direction. Take Disney as an example. Movie box office accounts for only 15% of the total revenue of $11 billion. Everyone has been to Disneyland and Universal Studios. These two man-made landscapes have been quite successful in tourism products around the world. There is still huge room for the development of parks and tourism based on the concept of film and television in China. These are two more obvious growth poles in my opinion.
Finally, my conclusion is:
film and television culture is one of the most important manifestations of cultural self-confidence. Movies are the vanguard of the cultural industry and the pioneer of Chinese culture going out.
Finance is the core of modern economy and the lifeblood of promoting economic development.
The cooperation between economy and film and television is a historical opportunity for financial development. It is also the only way for Chinese film to become a strong film and television country.
Thank you all!
-
-
-
-
-
-
-
-
-
-