An amendment to the Closer Economic Partnership Arrangement (Cepa) signed on Wednesday laid out plans to remove hurdles for local businesses seeking to expand over the border.
The government intends to remove investment restrictions around film companies seeking to do business over the border and allow Hong Kong firms to distribute locally produced movies on the mainland.
Tenky Tin Kai-man, a spokesman for the Federation of Hong Kong Filmmakers, said on Thursday the relaxation of measures was encouraging, but the effectiveness of the changes depended on details yet to be ironed out.
“The industry has always invested in films on the mainland, but it had to be under the terms of ‘mainland-Hong Kong co-productions’,” he said.
Tin explained that currently movies entering the mainland market as “Hong Kong films” would only require the production company to pay taxes in the city.
