Magazine article Screen International

China's NFC to Back the Annihilator

Magazine article Screen International

China's NFC to Back the Annihilator

Article excerpt

Chinese state-run fund National Film Capital (NFC) has unveiled a slate of ten US-China co-productions, including Stan Lee's Chinese superhero project The Annihilator.

Also known as China Mainstream, the fund is raising capital from Chinese local governments and private equity investors in China and Hong Kong. The fund is chaired by former China Film Group president Yang Buting. Wang Guowei, who co-founded the Iron Pond film fund in 2005, is president of NFC.

NFC has a similar remit to Iron Pond in that it aims to bridge the gap between China and the international film industry. At a press event at the Shanghai International Film Festival (SIFF), the fund announced that it intends to raise a total of $300m, of which around $200m will be invested in co-productions. The remaining $100m will be invested in cinema development and film marketing.

NFC partner Xu Xiaofeng, formerly head of Warner Music in Greater China, said the fund is looking at larger projects with global commercial elements - in particular Chinese stories written and directed by filmmakers with Hollywood experience.

Dan Gilroy (The Bourne Legacy) is scripting $100m Chinese superhero project The Annihilator for Stan Lee's Magic Storm Entertainment. …

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