Speech by FS at Asia-Pacific Regional Planning Session (English only) (with photo)

                                                       

Following is the keynote speech by the Financial Secretary, Mr John C Tsang, at the Asia-Pacific Regional Planning Session held by the Motion Picture Association today (June 17):

Mr (Chris) Dodd, ladies and gentlemen,

Good afternoon.

It gives me great pleasure to welcome you all to Hong Kong. You have chosen a momentous day for your gathering here. The organisers must know something that we don't. As you may be aware, our legislature is on verge of voting on the constitutional reform package that would give the Hong Kong electorate universal suffrage. The vote count is close. We can certainly use a bit of that movie magic now to ensure that we achieve the desirable outcome.

And since you are all here from Los Angeles, the fabulous world of film magic, it means that I can talk more about the heroes in the movies that, through their actions, manage to change the world. I would like to talk about Arnold Schwarzenegger. Yes, in exactly two weeks, the former Governor of California turned cyborg for the fourth time over a span of three decades will fill 3D screens here in Hong Kong, and around the world, with "Terminator Genisys".

Arnold and I, admittedly, do have a few bits in common. Certainly, our life paths have been uncannily similar. Both of us moved, early in our lives, albeit from different ends of the world, to the United States, where we kick-started our careers.

Initially, our shared passion was heavy lifting: Arnold hauling weights as a competitive bodybuilder; yours truly, after graduating from the MIT School of Architecture, hauling dry-walls in construction sites. I believe Mr Schwarzenegger may have enjoyed somewhat more success in the lifting department - enough, it seems, to attract Hollywood's attention.

Astonishingly, our careers would again come together years later, this time in politics and public service: Arnold in California as Governor; me here in Hong Kong as Financial Secretary. But while the former Governor was able to reboot his star turn in Hollywood, I am still here - biding my time, waiting for your call for screen tests.

We love movies here in Hong Kong. Love to watch them, make them, and, for some of us, star in them. They seem to embody our creativity, our freedom and our culture.

We have been making movies for more than a century now. The first Hong Kong-produced film, "Zhuangzi Tests His Wife", was screened in the US in 1914. I have not seen this film myself, but it sounds like the original romcom. For some reason, it has yet to make it back to Hong Kong theatres.

Last year, box-office receipts here, of both locally produced and imported films, rang up more than US$200 million. Some 50 locally produced films were released.

No less important, Hong Kong is at the theatre doorstep of the fastest-growing movie market in the world. Mainland China is now the world's second-largest film market in box-office receipts, behind only North America.

There are more than 27 000 screens in the Mainland, and that number continues to grow. And Hong Kong's knowledge, experience, contacts and know-how continue to play a significant role in the Mainland film market.

The Hong Kong film industry takes good advantage of CEPA, our free-trade agreement with the Mainland. It gives our movies preferential access to the Mainland film market. There, Hong Kong-Mainland co-productions are treated as local films for nation-wide distribution. Because of CEPA, the number of co-productions has grown from about 10 in 2004 to about 30 today.

Over the past four years, some 60 co-productions released in the Mainland grossed more than 100 million Yuan (US$16 million) each in box-office receipts.

And the good news is that CEPA is nationality neutral. Overseas film companies incorporated in Hong Kong can enjoy the same benefits as local filmmakers in reaching the Mainland's movie-loving millions.

It has been five years since the Asia-Pacific Regional Planning Session was last held in Hong Kong. I am pleased to note that, over that period, a dozen US productions have chosen Hong Kong as their filming location. They include "Transformers: Age of Extinction", from Paramount, in which one of the Transformers ripped up the corner of my office. I shall be presenting the bill to Paramount later this afternoon.

There was also "Blackhat", and "Contagion" from Warner Bros, not to mention Batman: "The Dark Knight", in which Batman jumped off the IFC, giving a spectacular view of our city skyline.

Hong Kong is also a favourite location for US TV dramas and reality shows. I am thinking of such hits as "The Amazing Race" Season 11, "No Boundaries", "House Hunters International", "Covert Affairs" and "Hawaii Five-0".

In fact, more than 140 overseas productions are shot each year in Hong Kong.

It is perhaps our skyline, our neon signs or our crowded tenements that have attracted your attention, but more importantly, it is, I think, our film-friendly approach and our experienced professionals that have, indeed, attracted filmmakers from all over the world to Hong Kong.

More than filming, Hong Kong counts some 130 companies that provide high-quality post-production services in such specialty areas as computer graphics, visual effects, sound effects, editing and subtitling.

The Hong Kong Government attaches great importance to supporting film productions here. We have a dedicated team for handling filmmakers' enquiries and requests. Whether for location scouting and filming, traffic control or any other film-shoot needs, we work hard to make your film a success.

We are also constantly enhancing our intellectual property regime, in light of advancement in technology. We are in the process of updating our copyright law in response to the sea change brought about by the online environment. It is our intention to complete the legislative exercise in the current term.

Hong Kong is also a film financing hub, not surprising given that we are one of the world's major financial centres. Each year in March, we support a number of film events, including FILMART (the Hong Kong International Film & TV Market), which is Asia's premier market for films and TV shows. It is also one of the top three events of its kind in terms of exhibitor numbers.

The 2015 edition of FILMART attracted more than 780 exhibitors from over 30 countries and regions, among them nearly 50 exhibitors from the US, including 26 exhibitors organised by the US Independent Film & TV Alliance.

Let me add that more than 400 screenings were held during FILMART, including some 80 premieres.

FILMART falls under the umbrella of Entertainment Expo, the month-long multimedia showcase that features 10 major events, covering film, TV, digital entertainment and music. If you have not taken part in this extravaganza, do find time to join us at the next occasion.

Ladies and gentlemen, I hope you have a great planning session, but even more important for us, I hope you enjoy your stay here in Hong Kong, and I wish you all the best of business at the box office, here in Hong Kong and around the world.

Thank you, and "Hasta la vista, baby".

Wednesday, June 17, 2015