everbright-idg industrial fund and shanghai film art academy jointly launch venice film festival’s asia-pacific unit

new momentum from china invigorates world's leading film gala

业务发展 2017/04/12
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everbright-idg industrial fund ("the fund") under china everbright limited (“cel”; stock code: 165.hk) is pleased to announce its cooperation with venice days and the shanghai film art academy to officially launch the venice days asia-pacific unit. marking another important initiative for cel’s global investment plans, the unit will enable the fund to continue to strengthen its ability to invest in the pan-entertainment sector.
 
present at the inauguration ceremony were mr. pietro innocenzi, deputy executive chairman of venice days and chairman of federation of italian film producers; mr. gao xiaosong, chairman of alibaba entertainment strategic committee; mr. jiang bo, president of the shanghai film art academy; and mr. ai yu, cel’s managing director and department head and managing partner of everbright-idg industrial fund.



last year, everbright-idg industrial fund invested in shanghai film art academy and acquired 5-year exclusive rights to host venice film festival’s asia-pacific unit, which laid a solid foundation of fund’s expansion in pan-entertainment industry and cultivating industry talents. according to cel, as a symbol of the nation's soft power, the film and tv sector’s campaign to promote two-way exchanges is not only the best publicity for the country’s image, but can also contribute to the rapid growth of related industries to create huge added value. the fund will as always take a positive long-term view of the pan-entertainment sector. in the world of film, both globally and in china, the fund shares a common vision with the venice film festival to power the development of the film industry. looking to the future, the fund will continue to work more closely with all parties involved, setting its sights on promoting the development of the chinese and italian film industries, developing a system for facilitating two-way exchanges, improving the quality of film and tv productions, focusing on talent development, and injecting new vigor into the world’s top film production centers by harnessing the power of capital.
 
the venice film festival is one of the biggest film events in the world and the asia-pacific unit jointly launched by the fund and the shanghai film art academy will lead to close cooperation with the organiser of the venice days on two-way exchanges between the chinese and italian film industries. mr. gao xiaosong, appointed as chairman of the asia-pacific unit, said the unit aims to create the first artistic, professional, practical and chinese-themed cultural hub at the venice film festival. it is designed to identify excellent film products in the apac region and help promote the rapid development of the regional film industry by presenting these to the outside world.



as a strategic step for developing china' s cultural industry, it is important to include cultural industry into the nation's plans for fostering strategic emerging industries, cultivating cultural talents, building culturally unique brands, and focusing on international exchanges and cooperation in the cultural sector. as an internationally leading cross-border asset management platform, cel has continued to step up its development efforts in the cultural sector in recent years. pan-entertainment, of which film art forms a critical part, represents the key focus of the fund’s investment plan. the fund has yielded fruitful results from its pan-entertainment investments, having completed investment in iqiyi, china's leading video entertainment brand, and acquiring a controlling stake in the shanghai film art academy with a history of 14 years.



with the official launch of the asia-pacific unit, the fund will build on the academic strength of the shanghai film art academy and cel's extensive presence and resources in pan-entertainment to actively develop training programs for chinese and italian film professionals and film production, while introducing even more excellent film and video productions to the world. at the same time, with its ever-growing presence in pan-entertainment, the fund will draw on its dual driver of "industry capital" to support content creation, develop innovative forms of participation, and drive synergies. these efforts aim to bring out the internal power of china's ever-changing film and tv sector to create a complete value chain in pan-entertainment.