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The just concluded Shanghai Film Festival was a summit to promote new productions and reward the excellent ones. Also, the event offered a platform to buy and sell movies in the Film Trade Market session.
China has become a favorable potential market to filmmakers, producers, and merchandisers worldwide. When actively carrying out cooperation, they're also trying to get a foothold in the rapidly growing market.
Participants of the Film Trade Market are companies of animation design, filming, packaging and marketing, including South Korea's 12 top ranking film companies. Since 2005, South Korea's domestic film market has shrunk, exporting only five movies to China every year.
According to the South Korean Film Commission, they highly anticipate more disposable income among the Chinese people and hope China will be more open to South Korean films.
China's neighboring country Japan, as well as European enterprises, have the same hope.
In total, more than a hundred enterprises from some 20 countries and regions participated in the fair: half of them were foreign companies. And during the market session, over 300 films were sold.
Since 2002, a reform has been taken place in China's film publishing system, and the yearly box office gross keeps growing. The potential of the market is still huge, and that's why so many overseas counterparts are getting involved in the business.