hong kong The Film Development Council (HKFDC) launched the Film Production Financing Scheme 2.0 (FPFS 2.0) on January 15 with the goal of promoting local film production and fostering long-term industry growth.
The scheme replaces the COVID Era Film Production Financing Scheme (Vishram Scheme), which ran from July 2020 to January 14, 2025 and successfully supported 23 film projects. Among these, Hong Kong’s highest-grossing Chinese film “A Guilty Conscience” was going to break the record in 2023. Recently released “Papa” and “Last Song for You”, which were projects funded under the relaxation plan, achieved encouraging results at the box office. Result.
A number of enhancements have been introduced in FPFS 2.0 aimed at making it more attractive to film producers and investors. The maximum amount of financing provided by the government has been increased from HKD9 million ($1.1 million) to HKD10 million ($1.2 million), with qualified applications receiving up to 40% of the approved production budget. Additionally, cash flow for the production has significantly improved, with advance disbursement of funds increasing from 50% to 70% at the beginning of principal photography.
The scheme also increases the limit on the number of projects that can be undertaken by applicants and lead financiers, increasing the limit from two to four. To further encourage investment, private financiers are now given priority in recovering half of their investments, reducing financial risks.
To qualify for FPFS 2.0, applicants must be from film production companies registered under the Companies Ordinance with production experience of at least two released films. Projects must be feature dramas or animations 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, the directors must be permanent Hong Kong residents, and at least one permanent resident must play the two lead roles.
Applications for FPFS 2.0 remain open and free. Interested filmmakers and investors are encouraged to consult the guidelines available on the FDC website for detailed eligibility criteria and application procedures.
Dr. Wilfred Wong, Chairman of the HKFDC, 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 this will bring positive and active development in quantity and genre diversity in future film production.
