Government development agency makes first investment in movies

The management of the NDF announced in a statement that it will sponsor Taiwanese filmmaker Hou Hsiao-hsien’s science-fiction kung fu film, “Nie Yin Niang,” to the tune of NT$81.6 million (US$2.6 million).

The NDF made the decision based on the recommendation of the Cabinet-level Government Information Office (GIO), which oversees the country’s film industry, GIO Deputy Minister Albert Lin said Thursday.

Lin noted that it is the first time that the GIO has made such a recommendation, adding that his office has also offered an additional grant of NT$15 million to the world renowned director.

The production will cost an estimated NT$270 million, the highest ever in Taiwan’s film industry, he said.

The shooting of the film is slated to begin this year and to be completed in 2010.

The government has decided to make the investments as it hopes that the production would help to expand Taiwan’s film industry, widen its commercialization and draw higher box office sales, he said.

Traditionally, the government has used national development funds to boost local industries, with most of the money being invested in Taiwan’s high tech industry, Lin said, citing as an example Taiwan Semiconductor Manufacturing Co. (TSMC), now the world’s largest contract chipmaker.

If the government’s investment in the film proves successful, this will help substantially to expand Taiwan’s cultural sector, Lin forecast.

Taiwan’s film market has been dominated by Hollywood movies over the years, although there have been several Taiwanese films that have won international awards.

The GIO often subsidizes local films, but according to Lin, the GIO will focus more on box office performance in the future.

It is believed that Hou’s strong production team and the film’s business-oriented plot based on an ancient Chinese novel will help to earn high revenues overseas, Lin said.

Hou’s films have won awards at international festivals, including the Venice Film Festival and Berlin Film Festival.

Subscribe to The China Post and save 25%. Click here

SharePrintEmail

Write a Comment

Enter your comments - 3000 characters max

Type in image code

Submit

 Receive China Post promos Respond to this email