In defiant response to Hong Kong 's falling production levels, local producer BIG Media Group has unveiled a strategy to produce 100 movies in five years.

The company, which has recently undergone a restructuring, is also setting up an investment fund with IDG China Media Fund, while talks with further partners in Taiwan and Singapore are underway.

Following the restructuring, Hong Kong producer-distributor Mei Ah Entertainment is now BIG's largest single shareholder with a 44% share, while former Media Asia executive director Wellington Fung has been appointed as president. Mei Ah will oversee international distribution for the company's slate.

BIG has also announced its first projects under the new strategy including Jingle Ma's $3m Butterfly Lovers, starring Louis Koo, Liu Yifei and Shawn Yue, and Lawrence Lau's Besieged City about young gangs.

The company is also preparing a $10m remake of A Better Tomorrow, entitled Another Better Tomorrow, which BIG will co-produce with Korea's K&Entertainment.