SHANGHAI – Liu Zhijiang, president Hengdian World Studio, said Thursday that his company – operator of the biggest film and TV back lot in the world – has grown profits 20% on average over the last five years.
In an exclusive interview with The Hollywood Reporter, Liu did not reveal actual earnings for the private firm a few hours from Shanghai, but pointed to its recent tie-up with other international content producers as evidence of its reputation for cost savings.
Hengdian is where Jackie Chan and Jet Li shot “The Forbidden Kingdom” — an Apr. 18 U.S. release from Lionsgate — and Liu said the studio sees hosting the production of 100 hours of television drama a year and 10 movies over the next three to five years.
To start out on this goal, Hengdian will begin a new partnership with Salon Films of Hong Kong, announced by Salon chairman Fred Wang last week at the Hong Kong International Film Festival.