BEIJING, April 21 -- Contracts valued at over 10 billion yuan were signed at the 4th Beijing International Film Festival (BJIFF) held in Beijing on April 19, 2014.

A total of 32 projects have been signed, with a contract value of 10.521 billion yuan (US$1.69 billion), up 20 percent on last year and setting a new record in Chinese film transactions.

The Beijing Film Market of the 4th Beijing International Film Festival (BJIFF) was organized in the China Millennium Monument from April 17 to 19.

The projects cover all aspects of the film industry chain: investment of 3.803 billion yuan (US$611 million) for film production, up 22 percent from last year; 3.4 billion yuan (US$546.29 million) for construction of cinemas, movie production bases and cultural estates, up 13 percent; 1.017 billion yuan (US$163.4 million) for cinematic archives and 2.3 billion yuan (US$369.55 million) for newly introduced film foundation projects.

These results fully reflect the promising prospects of international cinematic exchanges and cooperation and the vitality of the Beijing Film Market, and symbolize that the Beijing Film Market has become one of the largest and most active and attractive film markets in the world, the organizers said.

A series of activities have been organized during the Beijing Film Market, with enthusiastic participation and multiple sectors involved. A total of 724 film enterprises and institutions from 24 countries have been registered. Among them, 248 exhibitors, up 20 percent from last year, were film companies, industrial bases, industrial organizations, government departments and other relevant institutions, covering the whole industry chain including cinematic planning, production, distribution and promotion as well as cinemas, and involving multiple sectors such as finance, publishing, advertisement and legal consultation.

The Film Factor Market also focused on post-production, technology, and film locations. Over 50 outstanding post-production special effects and technology companies took part in the exhibition.

BUF, the famous French special effects company that won the 50th Golden Horse Award for Best Visual Effects of Taiwan, renowned domestic special effects and technology companies including Phenom Films and Soul Power, Dexter, and other Korean special effects companies that have established close cooperative relationships with the Chinese film industry are all on display.

A total of 226 potential projects, up 120 percent from last year, were brought to the Film Project Market.