Wuxi Studios, a state-of-the-art film studio in Wuxi, Jiangsu province also known as "Huallywood", hosted a two-day investment summit for the film and culture industry on Dec 15.

Government officials co-launch the film and culture industry investment summit at Wuxi Studios on Dec 15. From left to right: Li Xiaomin, Party secretary of Wuxi city; Tong Gang, one of the top officials at the State Administration of Press, Publication, Radio, Film and Television; Zhang JInghua, vice governor of Jiangsu province. [Photo/provided to chinadaily.com.cn]

At the opening ceremony, three service platforms were launched to provide professional services for crews that film in Wuxi, expecting to drive more than 10 billion yuan ($1.49 billion) in funding to the city's film and culture industries. Signing ceremonies for 35 film and TV funds and firms were also held.

More than 300 attendees, including government officials, industrial experts, film directors, producers and investors, discussed the current development of the film industry at the site often labeled "China's Hollywood", as well as the future direction for the industry based on the application of new technologies in filming and film production.

A film industry fund of more than 10 billion yuan ($1.49 billion) settles in the city of Wuxi, Jiangsu province on Dec 15. [Photo/provided to chinadaily.com.cn]

Tong Gang, one of the top officials of the State Administration of Press, Publication, Radio, Film and Television, addressed the summit giving credit to the development of film industry in the city. Tong urged further innovative breakthroughs in the integration of visual arts and modern technology to make the place an industry hub.

Zhang JInghua, vice governor of Jiangsu province, said that Wuxi Studios features cutting-edge technologies for filming and film production. He expects more domestic and overseas investment to help drive forward the development of the province's film industry.