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The Fifth Sino-U.S. Cultural Industry Summit Was Successfully Held in Macau

The Second Panel: The Future of China-U.S. Co-production Films under the Current Trade War

MACAU, China--(BUSINESS WIRE)--$GTMG #Americanfilm--On December 28, 2020, the fifth Sino-U.S. Cultural Industry Summit was successfully held at MGM Cotai, Macau, China. Chinese and American film producers, directors and scholars discussed the Future of the Sino-U.S. Film Industry under this Pandemic. This event was hosted by GTMG and Aollywood Producers Association, and co-organized by Lotus TV, Macau Daily and MGM. There were three panels: "The Future of the Global Film Industry under this Pandemic," "The Future of China-U.S. Co-production Films under the Current Trade War" and " What kind of role does Chinese film play in the global film industry after the Pandemic?"

In the second panel, Bill Mechanic, the Producer of?Hacksaw Ridge? believes that the influence of streaming media on traditional movies may be a bit over-exaggerated. “In fact, it is difficult to increase revenue by relying on streaming movie playback alone. It can be seen that in the traditional film industry, the box office plays an important role, and some movies have reached a box office of 2.8 billion US dollars. Now streaming media does have advantages over traditional film, but it may also be restricted by marketing budgets, both of which have pros and cons. I don't think traditional cinema chains will disappear completely."

Michael Berry, the Professor & Director of the Center for Chinese Studies, UCLA, believes that “China is very good at controlling the pandemic, China can resume work soon, and theaters will also recover. In the short term, we can see that the development of Chinese film industry is healthy.”

Film scholar Zhou Tiedong believes that “After we recover from the pandemic, the global film market will face a surge in content. Therefore, content is king. Whether it is co-production or not, it depends on whether the filmmakers are well prepared to tell a good story.”

About the Sino-US Cultural Industry Summit:

Founded in 2016, the Sino-U.S. Cultural Industry Summit is a non-profit organization that promotes culture, film, art, travel, trade, cuisine and investor relations between China and the U.S. It co-operates with relevant departments of the Chinese and U.S. governments, enterprises, and communities to engage in cultural and economic activities. The annual Sino-U.S. Cultural Industry Summit effectively builds a bridge to propel relations between Chinese and Americans.



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