Hong Kong: Strategizing to rise above the economic downturn and restoring the faith in the film industry, Salon Films (H. K.) Ltd announced strategic alliances with Zhejiang Hengdian Film Production Co. Ltd, Yoshomoto Kogyo Co. Ltd, MediaCorp Raintree Pictures Pte. Ltd, Access Asia (Cayman) Ltd, China Film Foundation, Media Development Authority Singapore, Enlight Pictures, National Arts Entertainment Ltd, and Pearl River Film Company Ltd, at the 13th edition of the Hong Kong International Film and TV Market (Filmart) in Hong Kong.

The alliance will jointly promote development and growth in the region, creating stronger cultural connections between East and West and exploring new commercial opportunities for the film and television industry.

Salon president Fred C Y Wang informed www.indiantelevision.com that the Singapore government has agreed to contribute Singapore $100 million over three years for the venture. Wang has been the driving force behind the alliance.

Wang said, “Professional experts in the region including technical, financing, star powers in front of the screen and producing resources will contribute to the artistic and commercial success, I wish that the filmmakers from the Indian film industry too become a part of the alliance.”

Representatives of filmmakers from mainland China, Hong Kong, Japan and Singapore were present at the press conference.