Highlights
Minsheng Bank grants TV directors 100m yuan line of credit
By Zhang Jiawei (chinadaily.com.cn)
Updated: 2009-12-23 14:46
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China Minsheng Banking Corp has opened a line of credit worth more than 100 million yuan ($14.61 million) in total to 23 major Chinese directors, including Zhang Guoli, to help them develop their respective TV programs. Each director will get about 5 million yuan.
The money, which can help pay for as much as 50 percent of the cost of a TV show, is unsecured by any collateral, but a specialized investment firm will help manage it to ensure that it is all spent properly.
The 23 directors are all well-known across China, a fact that reassured Minsheng when it was offering them the money.
An average of 40 TV shows per day were produced in China in 2008, and 1,764 of the country's 1,974 TV channels broadcast TV dramas...
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