The two-day event plans to select around 30 projects from around the world and recommend eight Chinese projects to potential film investors. It will also present two awards - to the most creative project and the project with the most market potential.
Last year's award winners are both progressing towards production according to SIFF managing director Tang Lijune.
Xiao Jiang, who won the prize for most creative project for $700,000 (RMB5m) coming-of-age story Goth's Breath, is now in talks with New Zealand film funds for investment.
Yang Shupeng's The Robber - a $1.6m (RMB12m) martial arts project which won the prize for having the most market potential - has received investment from Shanghai Film Group, Stella Megamedia and an unnamed Hong Kong investor.
According to Tang Lijune, CFPC is set to be a long-term event at the festival. 'It emphasises projects by young Chinese filmmakers as well as international projects with Chinese elements, which is the main difference with similar project markets in Asia such as the Hong Kong Asia Film Financing Forum (HAF) and Pusan Promotion Project (PPP).'
CFPC is now open for entries until April 30, 2008.