Life of Guangzhou - Man Behind "The Banquet" Aspires to Be "Chinese Warner Bros."

This year, Huayi Brothers has invested more than 100 million yuan (12.5 million U.S. dollars) in two major productions, "The Banquet" and "Battle of Wits", a potential blockbuster that will be released at Christmas. With the two epics and two other low budget films in the vanguard, they are launching a new onslaught on the box office both in China and overseas. 　　

The first film company to receive a big injection of funds from insurance and banking institutions to help sell distribution rights overseas, Huayi Brothers has solved the cashflow problems that plague many Chinese film companies. 　　

"We're the first film company in China to receive loans from banks without collateral," said Wang, adding that the support from major financial institutions shows that the Chinese film industry is becoming more transparent and professional. 　　

Wang admitted that China's film market is still very young and needs time to develop, yet he believes, "Given the speed at which China's economy is developing, a world-class Chinese entertainment and media group is sure to emerge in the near future."

"Years ago a movie that took in 30 million yuan (3.75 million U.S. dollars) at the box office was considered good, but now many films earn over 100 million yuan (12.5 million U.S. dollars) and the figure keeps rising." 　　

Wang said that four movies by Chinese directors have achieved a box office of over 100 million yuan (12.5 million U.S. dollars): "Hero" by Zhang Yimou, "A World without Thieves" by Feng Xiaogang, "Kung Fu Hustle" by Stephen Chow and "The Promise" by Chen Kaige. 　　

He said, "The Chinese film industry will be much stronger if six more highly-talented directors emerge soon." 　　

"I think Feng is one of the best directors in China. In the last six or seven years, everyone of his films has made it to the box office top three " said Wang. "Even Steven Spielberg couldn't do that!" 　　

"We've only signed a five-year contract, but I think we will still be cooperating with him in 2010, or even until he's too old to make films!" 　　

Wang is bold and generous in the way he promotes his stars but concerned at the scarcity of top talent. 　　

"Honestly, only Ge You and Jiang Wen ("Devils on the Doorstep") can be called first-class Chinese actors. There are no successors in sight yet." 　

Looking to the future, Wang has been giving opportunities to new actors and directors. 　

"I think we have to actively foster new talent," said Wang. "Even if their early work is not so great or profitable, it is worth making the investment in order to nurture new stars." 　　

Despite his optimism about the future of the Chinese film industry, Wang is aware that the real competition will come from overseas. 　　

"We are not as good as Hollywood. For now we can only compete with them in the Chinese market," said Wang. "But a few years from now, when someone may already have replaced me in the company, Huayi will still be slugging it out in this long-term struggle." 　　

"There is some rivalry between us and the China Film Group Corporation, that's inevitable," said Wang, "but in terms of global competition, we are fighting the same corner." He added, "The China Film Group Corporation is an excellent company. We compete with each other, cooperate with each other and rely on each other." 　　

Wang and his Huayi team have provided some of the most mouth-watering dishes in the cinematic banquet of 2006. 　

But that's only a start -- Wang's dreams and his ambitions continue to swirl. This media mogul is not afraid to take on the world. 　　