Independent entertainment company Juli Entertainment Co Ltd, has teamed up with China’s largest film group, China Film Group Corporation to co-produce at least 5 films annually, including one inspired by the American movie, Ocean’s 11.
The plot will be original in nature but like Oceans 11, will evolve around a cast of 11 men, who are likely to be a combination of Chinese and Hollywood actors. According to China Daily, Yang Zi, chairman of Juli Entertainment said, “This is the first time a private entertainment company is establishing such a formal cooperative relationship with China Film Group.”
Founded in 2009 under manufacturing company Juli Group, Juli Entertainment has experienced much growth and is determined to make its mark on the entertainment industry. Its’ joint venture with China Film Group Corporation is part of Juli Entertainment Company’s plan to produce 11 films and TV dramas this year. According to China Daily, the company is also planning to work with a large shopping center chain to launch its own line of cinemas.
Han Sanping, chairman of China Film Group Corporation, told China Daily, “China’s film industry is seeing rapid growth. We need more passionate entrepreneurs such as Yang to make domestic films more competitive against foreign productions.”
It seems that Juli Entertainment Groups ambitions have come at the perfect time, as the Chinese government has openly expressed it’s desire to continue expansion in it’s entertainment industry. According to the Wall Street Journal, China plans to more than double the value of it’s entertainment industry to nearly three trillion yuan, which translate into about US$460 billion, over the next five years.
Even the banks will conspire to nudge this process along by expediting bank loans and facilitating public listing for companies involved in film and television production.
Juli Entertainment has the perfect positioning to take advantage of the continuous growth of the industry and the government support. This plan to expand the industry definitely give small companies the boost they need to make a huge impact.