China
Renowned HK actor laments China’s censorship hurts creativity
Hong Kong film legend Chow Yun-fat has conceded that the city’s film industry – on the decline from its heyday – has no freedom, and creativity was at the mercy of China’s censorship requirements.
A movie script is subject to multiple departments and layers of approval, Chow told the press at South Korea’s Busan International Film Festival on Thursday.
“We have a lot of restrictions now. It is very difficult for Hong Kong filmmakers. But we will try our best to make movies with the Hong Kong spirit. This is our goal.”
Chow is the first prominent figure in the industry to speak out publicly against the Chinese film approval system. He was named Asian Filmmaker of the Year at the Busan festival.
Once the trend setter in Asian entertainment and films, way before South Korea’s K-pop and movies grabbed the world’s attention, the Hong Kong film industry is dying a slow death, battling first with piracy and then competition from capital-rich China which has lured some of its best talent.
At the same time, Beijing’s tightened controls on free speech and expression have crimped creativity, as most, if not all, productions depended on investments from China and for a commercial release in the world’s second-largest economy.
Hong Kong’s box office receipts in the first half of this year totaled HK$771.9 million (US$98.56 million), according to the Hong Kong Motion Picture Industry Association. The figure is less than 3% of the 26.3 billion yuan (US$3.7 billion) that Chinese cinemas have raked in for the six-month period, based on data from the China Film Administration.
“Somehow, up to 1997 … a lot of different things changed,” Chow said. “We have to pay attention to our government, the direction, where we have to go. You know, this is important. Otherwise, it’d be very hard to get the money to build up a story and shoot the movie. Because the mainland China market is so huge, so we are trying [out] some solutions – to make a living.”
No ghosts or dirty cops
In the 20 years since the Mainland Hong Kong Closer Economic Partnership (CEPA) was signed, the Hong Kong-China model in filmmaking has become a mainstay, which means the script also has to be vetted by the Chinese authorities before filming can commence.
Tin Kai Man, chairman of the Federation of Hong Kong Filmmakers told Radio Free Asia that joint productions inevitably need to meet “national conditions” – no sex, ghosts and monsters, as well as dirty cops content – in order to be released in China.
“Hong Kong [authorities] wouldn’t kill your movies, or ban them. At most, they’d ask for certain cuts to be made. The Chinese system is different. If you want to make a film, you need to first finish the script, get approval to film, and then submit to the China Film Administration to vet, to obtain the so-called dragon seal,” Tin said.
Meanwhile, actor Chow said every film market has its golden age. The 1980s and 1990s are touted as the golden age of Hong Kong cinema, and Chow said the spotlight is now on Korean films – South Korea not only has the creative freedom that his city lacks, but the movies are also recognized by Hollywood.
“Why Korean shows are good is because the range of the topics is huge. Perhaps because of the [Korean] government’s support and the wide freedom, the thinking of creators is broad,” he said. “I’m surprised at so many themes – woah, they are brave to make such films. I think they have unlimited imagination, strong creativity. The films are good; I’m happy and excited about them.”
Chow entered the industry in 1973. He first found fame in television in the 1970s and 1980s, before moving on to the big screen. Over the past 50 years, he has created many classic films, which helped propel Hong Kong to the status of Asia’s Hollywood. He also successfully broke into Hollywood with a number of films like “Anna and the King,” “Crouching Tiger, Hidden Dragon,” and “Pirates of the Caribbean: At World’s End.”
Translated by RFA Cantonese. Edited by Taejun Kang and Mike Firn.
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Business
US Enacts New Investment Restrictions on AI and Semiconductor Technologies in China
The US has implemented regulations restricting investments in key technology sectors in China, citing national security risks, particularly concerning AI and semiconductors, following President Biden’s previous executive order.
US Investment Restrictions on Key Technology Sectors
The United States has implemented new regulations that restrict investments in crucial technology sectors in China, including artificial intelligence and semiconductors, driven by national security concerns. The Treasury Department’s announcement marks a significant change in the US stance on foreign investment in critical technologies.
Effective January 2, US citizens, residents, and companies will be barred from transactions involving advanced technologies. Investors must also alert the Treasury about investments in less advanced technologies that pose potential national security risks, reflecting a broader approach to safeguarding American interests.
These restrictions stem from growing worries about China’s technological capabilities and military applications. The move follows President Biden’s previous executive order to prevent US investments from unintentionally benefiting adversaries. As tensions rise, these regulations are expected to impact the global tech industry significantly.
Source : US implements new investment restrictions on AI and semiconductors in China
China
Strengthening Economic Relations Between China and Indonesia: Exploring Trade and Investment Prospects
Indonesia emphasizes green and digital economic development, investing in renewable energy and healthcare. China, its largest trading partner, accounted for 25.24% of Indonesia’s trade in 2022. Although trade declined in 2023, optimism remains for growth in 2024.
The Indonesian government prioritizes the development of emerging sectors such as the green economy and digital economy. Leveraging its natural resources, consumer potential, and labor force, Indonesia has significantly increased its investment and support in renewable energy, electric vehicles, high-value-added downstream mining industries, electronic communications, and healthcare.
Given the complementary strengths of China and Indonesia in resources, production capacity, technological innovation, markets, and industrial chains, there is vast potential for further economic and trade cooperation between the two nations.
As of 2022, China has consistently been Indonesia’s largest trading partner for 10 consecutive years. According to official statistics, China-Indonesia trade accounted for 25.24 percent of Indonesia’s total trade in 2022. China has also been Indonesia’s largest source of imports for 13 consecutive years, with imports from China making up 28.52 percent of Indonesia’s total imports in 2022. Additionally, China has been Indonesia’s largest export destination for seven consecutive years, with exports to China comprising 22.58 percent of Indonesia’s total exports in 2022.
According to Chinese customs statistics, the total trade volume between China and Indonesia reached US$149.09 billion in 2022, a year-on-year increase of 19.8 percent. Of this, China’s exports to Indonesia amounted to US$71.32 billion, up 17.8 percent, while imports from Indonesia totaled US$77.77 billion, up 21.7 percent.
Despite a slight decline in China-Indonesia trade in 2023, with bilateral trade amounting to US$139.42 billion, down 5.9 percent year-on-year, China remains Indonesia’s largest trading partner. This decline is attributed to global commodity price adjustments. The Indonesian Ministry of Trade (Kemendag) is optimistic that exports to China will increase in 2024 due to the government’s efforts to optimize the Two Countries, Twin Parks (TCTP) cooperation project and China’s continued role as a major trade partner, contributing nearly a quarter of Indonesia’s total exports.
Source: General Administration of Customs, China
| This article was first published by China Briefing , which is produced by Dezan Shira & Associates. The firm assists foreign investors throughout Asia from offices across the world, including in in China, Hong Kong, Vietnam, Singapore, and India . Readers may write to info@dezshira.com for more support. |
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Business
China Real Estate: Sunac’s Luxury Apartments in Shanghai Sell Out in Just 3 Hours
China’s property market is recovering, with all 158 luxury units at Sunac China’s One Sino Park in Shanghai sold in three hours, generating 5.88 billion yuan, amid new government stimulus measures.
Signs of Recovery in China’s Property Market
China’s property market shows signs of recovery as Beijing implements measures to revitalize the sector. Recently, buyers flocked to a luxury residential project in Shanghai, indicating renewed interest in real estate.
Successful Sale of One Sino Park Units
The third batch of Sunac China Holdings’ One Sino Park sold all 158 units within three hours, generating ¥5.88 billion (US$825.8 million). This follows the successful sales of the project’s previous phases, totaling ¥21.5 billion. The luxurious flats in the Huangpu district were priced at ¥172,000 (US$24,150) per square meter, attracting double the number of interested buyers compared to available units.
Investor Perspectives on Real Estate
Shanghai resident Sun, who purchased a sizable apartment, expressed satisfaction in securing an asset that can “maintain its value.” He noted that current market conditions make home buying a more sensible investment compared to other options like the stock market.
Source : China property: Sunac’s Shanghai luxury flats sell out in 3 hours
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