China, the world's second-biggest movie market, is planning to come out with its first law to boost its heavily-regulated film industry by offering incentives to filmmakers.
Though it is only the first reading of the draft law, many industry insiders and experts have placed high hopes on the law to bridge gaps between domestic and foreign movies in technology, capital, talent and content.
Claims of China emerging as second highest box office earner with USD five billion came under scrutiny following allegations that a number of theatres ran empty shows to inflate the revenues.
The new film legislation can stimulate the industry, regulate irregularities and safeguard China's "cultural security," Cao Fuchao, head of China's State Administration of Press, Publication, Radio, Film and Television said at the start of the bimonthly session of the Standing Committee of the 12th National People's Congress.
Under the draft law, filmmakers would receive incentives in financing, taxation, promotions and land use, state-run Xinhua news agency reported.
China supports the film industry by setting up special funds and encourages more investment in the industry.
Tax cuts will be available for script writing, filming, distribution, screening and overseas promotion of domestic films, the draft said.
The government also encourages Chinese companies to invest overseas in collaboration with other film production companies and supports building movie theaters, it said.
Films should be submitted to regulators upon completion for review while regulators should formulate and publish review standards, it said.
Chinese filmmakers have long walked a fine line between creating quality films and violating Chinese film review rules, which many say are too vague.
According to the draft, whether a film can pass review is subject to the opinions of experts.
