By the time that festival workers began to dismantle the booths, there were only two sales deals confirmed, according to Zhou Tiedong, president of China Film Promotion International (CFPI).
Sound Of Tibet, a China Film Group production, is in the final stages of being picked up by California-based independent distributor 24 Frames for all North American rights.
Another film made by a state-owned company, documentary Mei Lanfang: A Great Master Recaptured, by Central News Reel and Documentary Film Studio, was sold to French Sight and Sound Network International for TV and video rights.
Both deals, according to Zhou, have been in discussion since the Cannes Film Festival, rather than being initiated at the Shanghai market.
The first edition of the film market, which has been separated from the existing Shanghai television market, took place at the Crowne Plaza Hotel with 30 local exhibitors on the second and third floors and nine foreign exhibitors on the fourth floor.
Major complaints from participants included the lack of space for booths, lack of screening facilities and insufficient traffic. CFPI, with its experience in major film markets, assisted SIFF organisers in setting up the market this year. 'This year is just a start. The brand name of this film market has not been established,' Zhou said.
Of the international exhibitors, a few that signed up such as Korea's CJ Entertainment and Activers Entertainment did not attend the market. 'On the first day, there was a lot of interest in buying Korean films or seeking co-producers, but much less on following days,' said the Korean Film Council's Asia promotion manager Jiyin Park.