China Intercontinental Communication Center and Abu Dhabi’s Image Nation have come together to form a new long-term strategic partnership, which will include a new international film and TV programming fund and training opportunities.
The International fund, which will be known as the The Culture China Image Nation Content Fund, is set to launch with an estimated $300 million for investment in mainstream film and TV programming from Hollywood, China and other countries.
The seven-year fund has a capital base of $100 million, contributed equally by the two founding organizations, and will seek other China based business for business development program.
The agreement was signed in Abu Dhabi, in the presence of Mohammed Al Mubarak, chairman of Image Nation; Michael Garin, CEO of Image Nation; Mr Jing Shiquing, vice president of CICC; and Omar Al Bitar, vice president of Emirates Diplomatic Academy.
HE Mohamed Al Mubarak said of the new partnership: “Thanks to the close historical relationship between the UAE and China, Abu Dhabi has quickly become the anchor for China’s outreach efforts to the Middle East and North Africa.
At the start of this year I had the pleasure of visiting China with a delegation from the UAE and spent time with our new partners at CICC, where I saw first hand the impressive developments in the Chinese film and television industries. We are honored to extend Abu Dhabi’s relationship with China into the media industry, a sector of great importance to both countries.”
