Coming soon to global cinemas ... deep-sea thriller among highlights in Sino-US venture

A US$150 million action thriller will be among the Sino-American co-productions in a Hong Kong-based joint venture aiming at taking the Chinese film market global.

Industry heavyweights from Hollywood and China said the collaboration was about more than just making movies.

“It’s not just about co-production of individual film projects. It’s an important partnership between China and the US, two of the world’s big countries,” said Li Ruigang, founding chairman of CMC Holdings, a major stakeholder of Flagship Entertainment, the joint venture with Warner Brothers Entertainment and TVB.

Li, dubbed China’s Rupert Murdoch, said the collaboration was formed after President Xi Jinping’s state visit to the US last year.

“This kind of cultural exchange is also a first in history.”

Li said by headquartering the joint venture in Hong Kong, the company could pay homage to the heritage of Hong Kong cinema and take advantage of the city’s legal system and global network.