Asia IP

The film industry is one of China’s most closely-followed and fast developing cultural creative industries, with newly emerging industry models and box-office revenue reaching Rmb13.1 billion (US$2.06 billion) in 2011. However, deficiencies still exist in securing funding for domestic film production, promotion, and distribution. With the exception of listed companies that can depend on the issuance and allotment of stocks, the majority of companies can only turn to internal funding because they have difficulty securing the credit support of banks and trusts. In order to stimulate the development of the film industry, the government has promoted the Guidance for Economic Support of Cultural Development and Prosperity policy and drafted the Film Industry Promotion Act for public comments, giving institutional protection for the film industry as well as credit products and services for film production, distribution, and cinemas. This active stimulation of synthesis between the film industry and finance sector will increase the speed and quality of industrialization in the film sector, creating a group of highly   competitive companies.

About the Author

Wang Yadong is an executive partner of Run Ming Law Firm, expert in dealing with intellectual property and related dispute resolution. As one of the few lawyers engaged in intellectual property protection after China reintroduced lawyers into its legal system, Wang has concentrated in this area for over two decades. Cases represented by Wang such as Louis Vuitton et al v. Silk Street Market, as well as the Yamaha and Wal-Mart “well-known trademark recognition” cases all earned landmark status within the development of Chinese intellectual property law and won wide-spread media attention. He has also provided IP related services regarding trademarks, copyrights, patents, and IP strategy for such international  enterprises such as Johnson & Johnson, Toyota, Getty Images and ESPN.