Word: mainlanders
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...While Hong Kong-made cinema was forgetting how to make money, mainland movies were striking box-office gold. Hero and Crouching Tiger, Hidden Dragon and House of Flying Daggers all proved that there's undoubted demand for good Chinese movies in Asia and beyond. But here's the hope for Hong Kong: even though each of those films were shot in the mainland with Chinese directors, they never would have been made without Hong Kong. Most of the films' stars hail from the city, and all of the movies were co-productions with Hong Kong companies that had experience...
...Across the border, the mainland is finally beginning to offer Hong Kong what the city has always lacked: a large, domestic market for its films. New cinemas are being built in China every day; the mainland box-office market increased by 50% from 2003 to 2004 alone, to $180 million. Piracy remains a concern, but the fact that a pair of co-productions this past December?A World Without Thieves and Kung Fu Hustle?were able to clean up at the box office shows that movies can make real money in China. "This is the only film market...
...Hong Kong filmmakers know the promise China holds, but making a movie that works in the mainland and in Hong Kong is no easy task. One man who figured out how to straddle the border is Hong Kong's Stephen Chow, whose Kung Fu Hustle took in $20 million on the mainland and a record $8 million at home, and is on a pace for $100 million globally. It's tough to copy Chow's style, but his film may provide a blueprint for a changing industry. Shot in China with a cast and crew that was mostly from Hong...
...Chao's foresight a decade ago. Most big U.S. law firms focused on Hong Kong, and O'Melveny opened a branch there too. But Chao, who had spent a year teaching international law in Beijing and Shanghai in 1985, recognized early on that having a big presence on the mainland would be a competitive advantage. The Shanghai operation opened in 1996, and a Beijing branch was added in 2002, as soon as the government gave the green light. "It was clear that by being there, we could see what was happening and what was coming down the pike sooner...
...master's degree from Stanford and a Harvard M.B.A. didn't help return Huang to the Marxist fold. Nor did an exercise in entrepreneurship when he co-founded General Wireless (now known as MTone), one of the first mainland-owned companies to receive venture-capital funding in the mid-'90s. Now Huang is sowing the seeds of capitalism as China managing director of Softbank Asia Infrastructure Fund, a $400 million venture fund. "There's a tendency for foreigners to look at [Chinese] companies run by English-speaking CEOs because they feel they can trust them and talk directly to them...