Why the Chinese film industry can conquer Hollywood

Action star Jackie Chan and Yeung Sau Shing, chairman of Emperor Entertainment Group (EEG), came from Hong Kong to the Beijing Film Academy (BFA) bearing gifts to students and teachers.

EEG, of which Chan is a prominent member, is launching a new film project with the film academy. A fund will be set up for students to shoot 10 films and a TV series.

"China has become a powerful state in the world regarding economy and politics status," Chan said. "But Chinese film industry lags far behind many other countries.