Patrick Nijs, Belgium Ambassador (R2) shakes hands with Zhang Pimin (R3), Deputy Minister of State Administration of Radio Film and Television at the launch of CFG Barco (Beijing) Electronics in Beijing on August 23, 2011. [Photo/chinadaily.com.cn]

 

China Film Equipment Corporation, a member of China Film Group (CFG) has joined hands with Barco, a Belgium technology company, and launched CFG Barco (Beijing) Electronics Co. Ltd, a joint venture, in Beijing on August 23, 2011.

The launch of the new company is another milestone for Barco and shows its long-held vision to operate in China in the long run. With a total investment of 70 million RMB (roughly $11 million), both parties are fully committed to digitalize cinemas in China and push forward localized production of Chinese films.

Phil Chen (L), General Manager of CFG Barco (Beijing) Electronics and Wim Buyens, Senior Vice President of Barco N.V. and General Manger of Barco Entertainment Division answer questions at a press conference for the launch of CFG Barco (Beijing) Electronics in Beijing on August 23, 2011. [Photo/chinadaily.com.cn]

 

This year marks the start of the 12th "Five-Year Plan." By joining hands, Barco and CFG will continue to work together in promoting the development of the cultural industries and in accelerating the localization of digital cinema products in China.

"This is part of the strategic plan, and also a move to meet the cultural needs of the general public," said Zhang Pimin, Deputy Minister of the State Administration of Radio Film and Television.

Barco has earned a good grade in the global cinema equipment scene. In China alone, it has installed more than 4,600 projectors and has kept a market share above 65 percent. Barco also holds global market leadership in digital cinema.

China Film Equipment Corporation is a leading producer of film equipment in China. 60 years after its launch, the company has gained rich experiences in production, supplying and marketing of film equipments.

"The joint venture will use the advanced technology of Barco and the brand of Barco while taking advantage of localized resources to extend its operation scope to cover R&D, production, marketing and customer support," said Phil Chen, General Manager of CFG Barco (Beijing) Electronics. Chen also stressed the importance of service in the joint venture's future endeavors.

Barco believes that the joint venture signifies a "fundamental change," and that's not just reflected in revenues. Wim Buyens, Senior Vice President of Barco N.V. and General Manager of Barco Entertainment Division, hopes to enhance the cultural lives of people and to have "movies playing at every corner of the streets, so that more can have movie-going opportunities."

Buyens believes that his company must be "closer to real China" in order to successfully extend its business here. "Instead of being just another European company, the joint venture is more about being closer to China. It'll be more difficult, and a lot of hard work, but for us, it's a high-level vision. It's important to see that context."