Hong Kong production is clearly having a moment, bolstered by bold plans, billions of dollars, what looks like broad industry collaboration, and a stream of domestic and mainland officials walking a market floor crowded with government-backed country pavilions from around the region.

About 750 exhibitors from 25 countries/regions and 30 country pavilions – including Taiwan and Thailand – are at the show this year, organisers, the Hong Kong Trade Development Council, said as the event opened on a cold and wet Monday morning.

The opening day high spot was Alibaba Digital Media & Entertainment (DME) Group unveiling a fund of at least HK$5 billion/US$639 million in a Hong Kong Cultural and Art Industry Revitalisation Programme for drama, movies, performances and training young talent.

Alibaba said its plan to boost the Greater Bay Area, comprising Hong Kong, Macau and Guangdong, involved a second HQ in Hong Kong.

As this year’s event got underway, Hong Kong’s Secretary for Culture, Sports and Tourism, Kevin Yeung, talked about broad industry cooperation to bring Hong Kong’s films and TV entertainment industry “to the next level”.

The aim was to spread Hong Kong’s style and stars around the world, chairman/CEO of Alibaba Digital Media and Entertainment (DME) Group, Fan Luyuan, said.

Domestic broadcast behemoth, Television Broadcasts Ltd (TVB), is a lynchpin of the latest boost, expanding last year’s RMB700 million/US$97 million agreement with the Alibaba-owned streaming platform Youku with another three drama series.

The series include a return of blockbuster “The Queen of News” (新聞女王) for a second season. Filming is scheduled to start early in 2025.

TVB said the two companies also planned to deepen their cooperation in intellectual property monetisation, facilitating advertising and commercial opportunities in mainland China and Hong Kong.

This includes product placement and other business models, enabling advertising clients to expand their reach to broader regional markets and the global Chinese community, TVB said.

Previous projects developed under the earlier TVB/Youku cooperation agreement, such as “Forensic Heroes VI: Redemption” (法證先鋒VI 倖存者的救贖) and “Darkside Of The Moon” (黑色月光), are currently in post-production and are expected to be broadcast in the second half of this year. Another project, “The Queen Of Castle” (巨塔之后), is scheduled to begin filming in April.

The other three dramas – “Themis” (正義女神), “I Only Live Twice” (模仿人生) and “Mrs. Revenge” (夫妻的博弈) – start filming in the second half of 2024.

“Through these projects, we will continue to deliver high-quality programmes to meet the diverse demands of the market and audience,” TVB said today.

Hong Kong heavyweights, including Edko Films, Media Asia Group, Universe Entertainment and Culture Group, Meiya Entertainment and Emperor Motion Pictures are said to have thrown their support behind the revitalisation initiative.