Speaking in his first policyaddress on Wednesday, Tsang said the board would improve government consultationwith the
The board will take over thework of the existing Film Services Advisory Committee (FSAC), chaired bySecretary for Commerce, Industry and Technology John Tsang, which the filmindustry has argued has a limited remit.
At the end of last year, theindustry set up an emergency task force in response to falling productionnumbers and new forms of piracy including illegal downloading. The task forcesubmitted a proposal for a single body that would consolidate the film-relatedfunctions of the FSAC and other agencies.
Meanwhile, the FilmGuarantee Fund (FGF) - a fund administered by TELA which underwrites banksloans to film productions - has approved its latest loan guarantee of $340,000(HK$2.63m) to Mandarin Films' $10m Dragon Tiger Gate.
The FGF is underwriting aloan of $677,000 (HK$5.25m) from Citic Ka Wah Bank Limited. It's the ninthapproval since the fund was launched in April 2003. The maximum loan guaranteefor each film is 35% of the production budget or $340,000, whichever is less.