BEIJING — Chinese entrepreneur Bruno Wu’s Harvest Seven Stars Entertainment is
linking up with Tianjin city government to build Chinawood, a $1.27 billion film and
media hub over a whopping 8.6 million square feet.

The base is aimed at U.S. and other foreign productions and will provide a hub for
co-productions, which are exempt from Chinese import quotas. Some 35% of the
investment is earmarked for film financing, the group said in a statement.

The initial build, comprising 377,000 square feet of offices, is nearing completion
and will open in October.

Wu has been busily building bridges with Hollywood in recent months, having linked
up with Jake Eberts and Justin Lin on projects already this year, and launched $800
million private equity fund, Harvest Seven Stars Media Fund, in February.

Among Chinawood’s functions will be a co-production film financing platform, a co-
production service center with post facilities, a facility for 3D conversion and a
distribution and marketing center.

Wu said that the East Asian film market was on track to be worth $10 billion by 2015,
and China would make up half of that market, rapidly catching up with North
America.

“It is crucial, as well as inevitable, that we offer the products and services to facilitate
substantial cooperation between the two territories. This project is a significant step
towards closing that gap by providing expertise and facilities in all areas of financing,
legal, co-production, distribution, marketing, sales and infrastructure,” he said.

The group said discussions were underway with a number of other companies from
around the globe.

Tianjin is a coastal city, around 30 minutes from Beijing by high-speed train. It has
been growing in recent years by aggressively attracting high-tech industries to set up
there.

By CLIFFORD COONAN – Variety – Sun., Apr. 29, 2012