China initiates new TV drama financing model

A signing ceremony held in Beijing has showcased a new model for funding, with more than 20 well-known directors getting 200 million yuan in loans from Minsheng Bank.

A signing ceremony held in Beijing has showcased a new model  for funding, with more than 20 well-known directors getting 200 million yuan in loans from Minsheng Bank.

Directors now have the right to raise as much as half of their production costs from banks without putting down any mortgage. It also means the first batch of directors are now investing in their own TV dramas, giving them the chance to put their creativity into practice. But they also need to pay off their loans within a year.

Analysts are optimistic about this new move, saying consumers will benefit most in the long run.