Big deals signed at Beijing film festival

The 10th Beijing International Film Festival has lined up contracts valued at more than 33 billion yuan ($4.82 billion), a new record.

Twenty-one dealsinvolving 46 companies were signed at the ceremony, with another 110 projects signed during the festival, bringing the total contract value to 33.1 billion yuan, up 7 percent from last year.

The projects cover all aspects of the film industry chain, including production, financing, investment, training of young filmmakers and the construction of cinemas and movie production bases.

Among the key projects, Poly Film Investment confirmed four projects at the signing ceremony, including two movies, "Crackdown on Criminal Activity: Tipping Point" and "Hello, Classmates".

Film companies are also exploring new technologies such as 5G and VR to improve the experience of audiences.