Hong Kong Film Council Revamps Financing Scheme to Boost Local Productions
The Hong Kong Film Development Council (HKFDC) launched the Film Production Financing Scheme 2.0 (FPFS 2.0) on Jan. 15 with the goal of bolstering local film production and fostering long-term industry growth.
The scheme replaces the COVID era Film Production Financing Scheme (Relaxation Plan), which ran from July 2020 to Jan. 14, 2025, and successfully supported 23 film projects. Among these was the record-breaking “A Guilty Conscience,” Hong Kong’s highest-grossing Chinese film in 2023. Recently released “Papa” and “Last Song For You,” which were also funded projects under the Relaxation Plan, achieved encouraging box office results.
FPFS 2.0 introduces several enhancements aimed at making it more attractive to filmmakers and investors alike. The maximum financing amount provided by the government has been increased from HKD9 million ($1.1 million) to HKD10 million ($1.2 million), with qualifying applications receiving up to 40% of the approved production budget. Additionally, cash flow for productions has been significantly improved, with an upfront disbursement of 70% of funds at the start of principal photography, up from 50%.
The scheme also raises the cap on the number of projects applicants and main financiers can undertake, doubling the limit from two to four. To further incentivize investment, private financiers are now granted priority in recouping half of their investment, reducing financial risks.
To qualify for FPFS 2.0, applicants must be film production companies registered under the Companies Ordinance, with experience in producing at least two released films. Projects must be feature dramas or animations intended for commercial theatrical exhibition in Hong Kong, with a runtime of at least 80 minutes and a production budget not exceeding $7.7 million. Additionally, directors must be permanent Hong Kong residents, and at least one permanent resident must fill two leading cast roles.
Applications for FPFS 2.0 will remain open-ended and free of charge. Interested filmmakers and investors are encouraged to consult the guidelines available on the FDC website for detailed eligibility criteria and application procedures.
HKFDC chair, Dr. Wilfred Wong, said: “The optimized Financing Scheme 2.0 will further enhance the attractiveness of the financing scheme and provide a strong boost to the film industry. I believe that it will bring positive and active developments in volume and genre diversity in future film productions.”
