‘Harry Potter’ producer backs kung fu movie remakes

Major international investment to the tune of $300 million is in part being used to sponsor the development of a dozen remakes of Chinese action movies under the “Masters of Kung Fu” label. It is being organized and channeled into a cross-media Access Asia fund by partners in Hollywood, China and Hong Kong.

Specific titles have not been announced but one of the central players in this fund is Hong Kong-based Salon Films, a long-established supplier of film equipment and financing that recently purchased international distribution rights to Gordon Chan’s PAINTED SKIN remake.

For months now, Variety has been reporting on ambitious efforts by Salon Films to streamline Asian film production and international distribution by working with leading Chinese studios such as the mammoth Hengdian World Studios, where THE FORBIDDEN KINGDOM was shot, and foreign investors like HARRY POTTER producer David Heyman. Deals have also been struck with Japanese manager and TV producer Yoshimoto Kogyo and Mediacorp Raintree, a Singapore-based production house.

The main goal of this fund is to produce 15 to 20 feature films with an average budget of $15 million each over the next five years. Backers are also looking to invest in animation, TV series and video games in a broad bid to target the mainstream international market.

According to Salon Films’ head Fred Wang, the idea is to roll investment, production and distribution into one tidy package. “Compared to other industries,” says Wang, “the film industry is still in the Stone Age, and the industry needs a big change. Studios are just waking up now.”

“We’re looking for titles that will resonate. Big Hollywood-approach movies,” says Christopher Brough, a Canadian TV producer and partner in the Access Asia fund.

The Access Asia fund is just one of several funds set up to bolster Asian film production. Another is a $285 million fund set up by The Weinstein Company, currently the parent company of Dragon Dynasty, a leading home video distributor of Asian action films in the U.S.

Despite all this international investment, Asian film financing remains troubled by world market declines related to America’s growing recession and a shift towards meeting the stringent censorship demands and the potentially lucrative sales potential of the large mainland Chinese market.

What appeals to Chinese audiences doesn’t necessarily appeal to Western audiences, even when talking about an action-driven martial arts movie. CROUCHING TIGER, HIDDEN DRAGON is a good example of a movie that played well internationally but failed to impress Chinese audiences. The reverse happened with Stephen Chow’s CJ7 (2008), a family-friendly departure from Chow’s usual kung fu comedy antics that resonated with mainland audiences but barely registered at all during Sony Pictures’ brief theatrical run in the U.S.

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Wang is definitely on to something when he states that “the film industry is still in the Stone Age.” This is particularly true in China and Hong Kong where new economic growth and beefed up film production capability on the mainland has not translated into big overseas sales, certainly not on the scale once seen during the kung fu movie boom of the 1970s.

Action films are still the most bankable export for Asian filmmakers and their backers. With big investment from international heavyweights like Heyman, this fund has a slim chance of sparking another kung fu movie boom if the remakes they intend to make are handled properly.

Questions remain as to which films are to be remade, who will star in them and what type of martial arts can be expected. The current trend, as evidenced by FLASH POINT, the popularity of Tony Jaa and MMA-style fighting points to realism with less wirework, fantasy swordplay and computer effects and more authentic skill from stunt actors. Fans have also expressed frustration with MTV-style editing and weak scripts that both diminish what can otherwise be entertaining martial arts films.

Last year, Celestial Pictures announced plans to begin producing remakes of several Shaw Brothers martial arts-related classics including THE FIVE VENOMS, VENGEANCE and THE FLYING GUILLOTINE. At this point it is unknown if Celestial will be partnering with Salon Films or if they will continue to work independently.

I can guarantee one thing. These remakes will not be a success internationally if they rely on the current crop of young Hong Kong movie stars. Recent films headlined by the likes of Wu Jing, Nicholas Tse, Shu Qi, and Jay Chou have not attracted audiences outside of the genre faithful and they never will. The standard bearers remain the likes of Jackie Chan, Jet Li, Tony Jaa, and Donnie Yen. Wu Jing is the closest thing China has to a next-generation martial arts star at the moment and the way things are going, his star will fade long before he ever has a chance at international fame.

Source: Variety