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China, India announce joint production of new film Kungfu Yoga
October 23, 2014, 6:05 am

Action movie actor Jackie Chan (L) and singer Joi Chua sing at a charity concert marking Jackie Chan's 60th birthday in Beijing, capital of China, April 6, 2014 [Xinhua]

Action movie actor Jackie Chan (L) and singer Joi Chua sing at a charity concert marking Jackie Chan’s 60th birthday in Beijing, capital of China, April 6, 2014 [Xinhua]

Prominent film production firms of India and China on Wednesday announced their first joint venture to make a new co-production, working title “Kungfu Yoga”, which could feature top Hollywood stars such as Jackie Chan. Chinese and Indian film markets are set to expand massively in the coming years, with more theater screens and more major companies entering the fray.

This is the first project to be initiated after both governments signed an agreement on film co-production in New Delhi during President Xi Jinping’s visit to India last month.  Global consultancy IHS Technology estimates the Chinese cinema market will be worth $4.6 billion in 2014.

The agreement between Indian firm Viacom-18 and Chinese firms Taihe and Shine World was inked on the sidelines of the Indian film festival in Xi’an, capital of north-west China’s Shaanxi province, which began on Tuesday as part of ‘Glimpses of India’ festival.

“Kungfu Yoga”, reminiscent of the 2008 animated family comedy from DreamWorks “Kungfu Panda”, was expected to portray Indian and Chinese cultural content. The Chinese martial arts fashion was revived in Hollywood with the arrival of Ang Lee’s Crouching Tiger, Hidden Dragon in 2000.

Jackie China is expected to feature in the movie. It will be directed by the Hong Kong-based Stanley Tong, who directed the “Stone Age Warriors”.

Details on theme, cast and budget of the new film will be announced later, Trade Councillor of the Indian Embassy, Namgya Khampa said.

During Xi’s visit, the agreement was signed between Indian Ministry of Information and Broadcasting and China’s State Administration of Press, Publication, Radio, Film and TV.

The agreement focuses on joint productions with joint investments and the film cooperation between the two countries and confers the status of local productions in both the countries.

The agreement could help Indian movies to get access to the Chinese market as currently very few Indian films are shown in the theatres due to the stipulation that only 34 foreign movies are allowed to be shown in China every year. Most of the quota is grabbed by Hollywood movies. Foreign studios in China can take no more than 25 per cent of profits.

Chinese cinema operators added a whopping 5,077 new cinema screens last year. An annual industry report by consultants KPMG India said Indian domestic theatrical gross revenues hit $1.54 billion in 2013, growing 10 per cent over 2012. The report estimates the Indian film industry’s total size at $2 billion, projected to reach $3.6 billion by 2018.

 

TBP and Agencies