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29 July, 2010
Mr. Kit Szeto Delivers Keynote Speech at the first
China Cultural Industries Hong Kong Project
Financing and Investment Presentation
The China Cultural Industries Hong Kong Project Financing and Investment Presentation, hosted by the China Chamber of International Commerce and the organizing committee of the China (Shenzhen) International Cultural Industries Fair, was held on July 29 at the Hong Kong Convention & Exhibition Centre in Wanchai. Mr. Kit Szeto, Director & CEO of Dim Sum TV, attended the event and delivered a keynote speech on the role of Hong Kong in the development of China’s cultural industries.
Mr. Kit Szeto giving his speech on Hong Kong’s role in the growing market for China’s cultural industries.
The development of China’s cultural industries is not only a high priority on the Central Government’s policy agenda, but it also presents new investment opportunities for Hong Kong’s commercial and financial sectors, as well as Hong Kong-based domestic and foreign capital. The financial and investment presentation was the first of its kind by China’s cultural industry in Hong Kong, an important first step towards the internationalization of the marketing of China’s cultural products. The objective of the seminar was to outline the development of China’s cultural industries and national policies in order to attract investment and expand their capital base. Among the guests at the event were Mr. Li Xiaolei, Deputy Director-General of the Department of Cultural Industries and professionals from both the mainland and Hong Kong.
(From left) Dr. Rebecca Lee, Hong Kong explorer, Mr. Szeto Kit, Director & CEO of Dim Sum TV, and Ms. Ma Durong, Director General of the Publicity Department of Nanchong Municipality of Sichuan.
In his speech, Mr. Szeto pointed out that the twofold demand from mainland and overseas markets has presented China’s cultural industries with a golden opportunity for development. He expressed his view that the success of the film and TV industries is driven by content creativity and innovation. At present, over 80% of the income for China’s film and TV industries is generated in the domestic market; overseas Chinese markets and the mainstream cultural market have yet to be tapped into.
Guests at the event. Mr. Kit Szeto (third from left), Mr. Li Xiaolei, Deputy Director-General of the Department of Cultural Industry (fifth from left) and Miss Christine Cheung, Director of South China Holdings Limited (eighth from left).
Mr. Szeto stressed the importance of innovative business models for the systematic expansion of China’s film and TV industries, which in turn will help income growth through diversification and a stronger international cultural presence. In that regard, Hong Kong’s liberal business environment and economic strength will prove a vital link between China’s culture industries and the international community. The experience of Hong Kong’s culture industries in gaining international influence and generating worldwide revenues, combined with its mature talent pool and business models, provides a valuable precedent. Coupled with China’s market size and system-building expertise, it can help facilitate both a quantitative and qualitative upgrade for China’s film and TV industries, and point them in the right direction in their international development.
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