Big fund launched for film, TV sector

A 5 billion yuan ($789.67 million) Chinese film and TV industry fund was set up in Shenzhen in early March. The fund was initiated and is being operated by the China Fengde Movie and TV Copyright Agency and private equity firm Eternale Funds. It will be used to fund movie and TV-related copyrights, as well as film studios, and provide capital for companies in the sector.