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Hong Kong’s Once Mighty Film Industry Grapples With Changing Market & Political Realities
New security legislation and changing market conditions in mainland China are creating new challenges for Hong Kong's once mighty film industry.
But these figures pale next to China’s homegrown hits – three Chinese films released over the recent Lunar New Year holiday – YOLO, Pegasus 2 and Zhang Yimou’s Article 20 – grossed more than $300M apiece. The Hong Kong Motion Picture Industry Association (MPIA) described the figures as “very unsatisfactory” and reported that box office in the recent Lunar New Year holiday period was down 24% year-on-year. He explains this process was a struggle, as funding sources in Hong Kong are limited, but hopes the success of recent new generation films might encourage local companies to rethink their investment strategy.
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