Beijing (Xinhua) – Contracts valued at over 10 billion yuan were signed at the 4th Beijing International Film Festival (BJIFF) held in Beijing on April 19.

A total of 32 projects have been signed, with a contract value of 10.521 billion yuan (US$1.69 billion), up 20 percent on last year and setting a new record in Chinese film transactions.

The Beijing Film Market of the 4th Beijing International Film Festival (BJIFF) was organised in the China Millennium Monument from April 17 to 19.

The projects cover all aspects of the film industry chain: investment of 3.803 billion yuan (US$611 million) for film production, up 22 percent from last year; 3.4 billion yuan (US$546.29 million) for construction of cinemas, movie production bases and cultural estates, up 13 percent; 1.017 billion yuan (US$163.4 million) for cinematic archives and 2.3 billion yuan (US$369.55 million) for newly introduced film foundation projects.

These results fully reflect the promising prospects of international cinematic exchanges and cooperation and the vitality of the Beijing Film Market, and symbolise that the Beijing Film Market has become one of the largest and most active and attractive film markets in the world, the organisers said.