Recent News Stories

  1. Hong Kong signs creative alliance with S. Korea
  2. Era of Farewell wins FPP Grand Prize
  3. Cinemalaya considering veteran focus in 2015
  4. Last Reel is first up at Cambodia IFF
  5. Interstellar tops holiday weekend in Japan
  6. Roaring Currents chimes at Grand Bell Awards
  7. Wong Fei-hung reboot opens second in China
  8. Honeygiver wins at Hanoi's first project market
  9. French producers call for Vietnam infrastructure
  10. Kini Kim on CJ's Vietnam strategy
  11. Hit drama Hero gets film sequel
  12. Interstellar remains dominant at South Korea B.O.
  13. Hanoi IFF opens third edition
  14. China stampedes over Golden Horse Awards
  15. Jimmy Heung (1950-2014)
  16. Bona and Youku Tudou report higher Q3 revenue
  17. Penguins of Madagascar second-placed in China
  18. Alibaba and Tencent sign Huayi strategic alliance
  19. Miike's Gods tops Japan box office
  20. Takakura Ken (1931-2014)
  21. Violator wins Best Picture at Cinema One
  22. Interstellar stays atop South Korea box office
  23. Hill of Freedom tops South Korea critics award
  24. To Singapore With Love appeal rejected
  25. Hubert Bals announces autumn 2014 projects
  26. Taiwan loosens restrictions on Mainland films
  27. Johnnie To breaks hearts on Singles' Day
  28. Turtles all the way down in China
  29. Beauty and the Beast, Twilight top Japan B.O.
  30. Golden Horse fixes project jury
  31. Doze Niu found guilty in Paradise case
  32. Sedic International fined for hiding income
  33. Interstellar lifts off to top South Korea b.o.
  34. Kitano Takeshi returns with yakuza comedy
  35. Jay Chou to join cast of Now You See Me 2
  36. Haemoo wins Best Narrative Feature in Hawaii
  37. Lee Lieh's 1 Production to enter securities market
  38. Expendables 3 tops Japan box office
  39. Ninja Turtles reboot tops China box office
  40. Li Li appointed new Galloping Horse CEO

GIO announces $3m in flagship subsidies


GIO announces $3m in flagship subsidies

By Stephen Cremin

Sat, 10 July 2010, 14:38 PM (HKT)


Finance News

Taiwan's Government Information Office (新聞局) have announced the first phase recipients of its recently promulgated flagship and strategic motion picture subsidy scheme (旗艦組國產電影片補助金).

The four successful projects are Wang Tung's (王童) Once Upon a Time in Taiwan (海峽), Chen Yu-hsun's (陳玉勳) 必殺技 (literally, The Killing Move), Hou Hsiao-hsien's (侯孝賢) The Assassin (聶隱娘) and Wei Te-sheng's (魏德聖, pictured) Seediq Bale (賽德克巴萊).

The Strait will be the first live-action film by veteran Wang Tung in almost a decade. In 2005, he co-directed animation Fire Ball (紅孩兒決戰火焰山, as "Wang Toon"), based on the legend of the Monkey King. Wang's project received the largest subsidy, NT$30 million ($934,000).

The Killing Move will mark the long-awaited return to directing of Chen Yu-hsun who previously made Tropical Fish (熱帶魚, 1995) and Love Go Go (愛情來了, 1997). His action-comedy, which plans to shoot as a China co-production, received a subsidy of NT$20 million ($625,000).

Hou Hsiao-hsien has also been awarded NT$20 million ($625,000) for his long-delayed martial arts fantasy The Assassin. Hou was previously awarded a production subsidy of $468,000 in December 2005, and assurance that 30% of the budget would be provided by the government's National Development Fund.

Finally, Wei Tei-sheng's Seediq Bale — about an aborigine uprising during the Japanese occupation of Taiwan — received a subsidy of NT$25 million ($780,000). Since he has almost completed his shoot, he is already eligible for a first payment of NT$8.75 million ($273,000).

According to GIO documents, the intention of the scheme is to "encourage the production of domestically produced motion pictures of both cultural/artist and commercial value". Production companies may submit applications for the second phase of the scheme in September.

The amount of funding for each film cannot exceed 30% of the estimated total production costs, although the GIO may also assist the filmmakers with securing loan financing or investment from the National Development Fund. Foreign producers may submit for funding through a local production partner.


Sign up with your email address for our free weekly newsletter: