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Hong Kong Government Overhauls Film Funding With “Production Financing Scheme 2.0”
New film production scheme increases the government contribution, while all applications with passing scores will receive 40% of the approved budget.
Hong Kong film production ground to a halt during the pandemic, due to stringent border controls and anti-Covid measures, and while the industry has been busy for the past few years, the market has not recovered to pre-pandemic levels. Other projects funded by the scheme, including Philip Yung’s Papa, based on a real-life family tragedy, which premiered at last year’s Tokyo film festival; and Jill Leung’s romantic drama Last Song For You, have also had encouraging box office results. All applications with passing scores will be provided with the maximum financing amount, i.e. 40% of the approved production budget, with a cap of $1.28M (HK$10m).
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