Project venture capital association launched for Hainan Intl Film Festival

A foreign film insider exchanges his business card with a Hainan International Film Festival exhibitor during the 72nd Cannes Film Festival held from May 14 to 25 in Cannes, France. [Photo/WeChat: Sanya Release]

The Hainan International Film Festival opened a sign-up channel of a new project venture capital association for excellent works and talents on June 1.

The second film festival will be held in Sanya, Hainan province from Dec 1 to 8 this year.

As an important component of international film festivals, the venture capital association aims to incubate excellent works and create a platform for discovering outstanding film talents.

The one launched for Hainan's film festival will be equipped with local characteristics to develop potential film projects, integrate domestic and overseas resources, as well as attract high-quality enterprises to further upgrade Hainan's film industry and contribute to the global film industry.

Named "H!Action", the venture capital association integrates Hainan's abbreviation, greeting, and industry jargon in its name. The exclamation point in the name expresses the hope of the new association to show vitality and be blended into the industry as soon as possible.

A total bonus amount of six million yuan ($868,300) has been arranged to support excellent film projects.