On June 15, the 11th Annual Global Film Industry Value Chain Development Forum—part of the 27th Shanghai International Film Festival—was successfully held at the Xuhui Campus of Shanghai Jiao Tong University. Co-hosted by the USC-SJTU Institute of Cultural and Creative Industry (ICCI) and the Motion Picture Association, the forum brought together leading figures from global film and television companies, senior professionals from the animation and gaming sectors, industry experts, and academic representatives.
Focusing on the theme “Filmed Entertainment IPs’ Historic Opportunities and the Industry’s Mission – How to Build a Sustainable IP Ecosystem,” the forum featured in-depth discussions on topics such as value chain development and business model innovation, and the evolving ecosystem of Chinese film IPs in conjunction with animation and digital games. Participants worked together to explore sustainable pathways for the future of China’s film and media industries.
Xin ZHAO, Deputy Secretary of the CPC Committee of Shanghai Jiao Tong University
In his welcome remarks, Xin ZHAO, expressed sincere thanks to guests and partners. He highlighted the forum’s role as a long-standing platform for China-U.S. exchange in the film and cultural industries, in line with China’s cultural development strategy. He reaffirmed SJTU’s commitment to talent cultivation, technological innovation, and fostering synergy across film, animation, gaming, and cultural tourism—working with industry leaders to shape the future of the creative economy.
Pimin ZHANG, Chairman of the China Film Foundation
Pimin ZHANG noted that 2025 marks key milestones for both global and Chinese cinema, as well as the final year of China’s 14th Five-Year Plan. He emphasized the need to carry forward the industry’s legacy through reform and innovation, focusing on strengthening the industrial system, extending the value chain, and driving new consumption models.
He highlighted 2025 as China’s “Year of Film Consumption,” and praised the forum’s focus on IP, animation, and gaming as timely responses to industry needs. He called for greater openness and collaboration to tell globally resonant stories and showcase Chinese culture on the world stage.
Urmila Venugopalan, President and Managing Director, Asia-Pacific, Motion Picture Association
In her address, Urmila Venugopalan acknowledged China’s rapid progress in film, animation, and digital games in recent years. She noted that the MPA and its member studios have long supported—and benefited from—the development of China’s screen industries. She also expressed sincere thanks to partners and guests for their continued support of the MPA.
Panel 1: Development Strategy of Holistic Filmed Entertainment IP Value Chain
Filmed entertainment IPs are key drivers of the creative industries, generating long-term value through sequels, games, merchandise, and cultural tourism.
With more top-performing domestic IPs, China’s “new cultural export trio”—online literature, filmed content, and games—is gaining momentum. Tech innovation and industry integration are helping IPs evolve from short-lived hits to enduring cultural assets, strengthening China’s cultural soft power.
Dialogue Moderated by William FENG, Vice President, Asia-Pacific and Head of Greater China, Motion Picture Association
Under the moderation of William FENG, forum guests shared their insights on industry trends and professional experience.
Ning YE, Senior Vice President, iQIYI
Ning YE, Senior Vice President of iQIYI, stressed that strong storytelling is the foundation of any successful filmed entertainment IP. iQIYI is focused on uncovering high-quality stories through investment in film and drama.
He pointed to the importance of building globally resonant “super IPs,” citing Black Myth: Wukong and Ne Zha as examples of content that become “cultural totems” through deep audience connection. He emphasized the value of well-crafted, believable characters, and called for a continued focus on storytelling to build trust and drive success. For existing IPs, he underscored the need for copyright protection and long-term operations to sustain impact.
Lin LIANG, General Manager of Film and Project Development, Emperor Motion Pictures
Lin LIANG emphasized two key challenges in IP development: lack of long-term investment and sustained user engagement—both vital for lasting success.
She introduced a “loosely connected” IP model in her upcoming films A Cool Fish film series, where a shared worldview and themes—not fixed characters—link the series.
She noted the importance of content depth, relevance, and scalability, while acknowledging the limitations of live-action IPs in derivative development. Building an IP into a brand, she stressed, requires strong content, early planning, and continuous content incubation.
LIANG called for breaking industry silos and suggested intermediary institutions help connect resources and partners to unlock long-term IP value.
Yujian CHEN, Chairman, HOUDE Fund
Yujian CHEN stressed that the true value of IP lies in emotional resonance. Consumers pay for connection—through merchandise, tourism, and everyday experiences. To sustain this, the industry must move beyond box office and build a broader consumption ecosystem.
HOUDE Fund focuses on IPs with strong potential for derivative growth and cross-sector integration. CHEN cited 007 as a model—its vitality sustained through brand partnerships that link emotional and material value.
Key obstacles, he noted, include overreliance on box office, weak cross-industry ties, and slow IP expansion. HOUDE addresses these through early planning, resource linking, and financial innovation. Only a full-chain ecosystem—from creation to daily life—can turn IP into enduring cultural brands.
Bennett POZIL, Executive Vice President and Head of Corporate Banking, East West Bank
Bennett POZIL praised the global potential of Chinese cinema, highlighting Blossoms Shanghai as a standout. He stressed that true internationalization goes beyond capital—it requires cultural resonance and universal storytelling.
He noted key differences between U.S. and Chinese film finance: Hollywood relies on legal safeguards, while China emphasizes flexibility. Navigating these differences requires local insight.
As global revenues tighten, POZIL urged China’s IP industry to embrace diverse channels—games, short videos, and social commerce—to build a resilient, global-facing ecosystem.
Panel 2: Animation, Digital Games, and the Filmed Entertainment IPs’ New Ecosystem
In 2024, Black Myth: Wukong set new standards with cinematic visuals and rich cultural storytelling, redefining IP development through film-game integration. In 2025, Ne Zha 2 topped the global animation box office, with cross-industry merchandise proving the commercial power of animated IPs.
As film, animation, and games converge, high-quality IPs are evolving into full-chain ecosystems—from content to consumption—expanding China’s cultural influence with global reach and long-term momentum.
Dialogue Moderated by Weimin ZHANG, Dean of ICCI
Moderated by Weimin ZHANG, Dean of ICCI, the panel focused on the theme “Animation, Digital Games, and the Filmed Entertainment IPs’ New Ecosystem.”
Guests explored the growing convergence of animation, games, and filmed IPs. Using Black Myth: Wukong as a case study, they discussed how AAA game IPs can inspire film production through a dual engine of technology and culture. They also examined the global potential of Chinese animation, using Ne Zha 2 to highlight how transmedia storytelling and digital innovation can shape internationally recognized cultural symbols.
Summer ZHANG, Head of China Strategy and Partnerships of Riot Games
Xiamo ZHANG noted that adapting game IPs for film and TV is gaining traction due to strong fan engagement and broad resonance. Citing Arcane, the League of Legends animated series, she stressed the need to balance authenticity for gamers with universal appeal.
She explained that Riot’s ecosystem grew from player demand, with Arcane Season 2 adopting a story- and character-driven model across games, film, merchandise, and esports.
ZHANG sees great potential in China’s large fanbase and IP resources, and called for cross-disciplinary talent and long-term thinking to deepen film-game integration.
Jun LIN, Chairman of Jason Entertainment
Jun LIN noted that adapting proven animation and game IPs helps reduce film production risk. Key to success is data-backed IP selection and fidelity to the original.
He introduced a “symbiotic model” where merchandise supports content creation, citing Ne Zha 2’s strong sales. Jason also co-leads marketing, such as themed subway ads for Link Click.
For global growth, he recommended a dual-track approach: leveraging international IPs for mature markets, and syncing Chinese IP content and merchandise for emerging markets like Southeast Asia, with targeted entry into Western markets.
Yajun LU, Dean of Public Policy Institute and Assistant to CEO, Bilibili
Yajun LU highlighted Bilibili’s success with original Chinese animation, now surpassing imported content among young users. IPs like Link Click and Rakshasa Street show strong local appeal.
She emphasized the platform’s community-driven ecosystem and multi-format IP development. While live-action adaptations broaden reach, they must balance faithfulness with innovation.
Bilibili is expanding IP into theaters and offline experiences to deepen engagement. LU stressed the principle of “using IP wisely”—sustainable growth depends on content quality, emotional resonance, and long-term values.
Jiaqi CHENG, President, Fosun Pictures
Jiaqi CHENG noted that a mature IP gains real value through adaptation—whether originating from animation, novels, games, or film. Its broader commercial potential emerges as it moves across formats, attracting both new and existing audiences in a cycle of growth.
She described the industry’s common “dual-track” strategy: acquiring established IPs for immediate return while incubating original assets for long-term value.
For screen adaptation, CHENG stressed the need for distinctive characters and expandable stories. Fosun’s Creation of the Gods partnership with Lao Miao Gold exemplifies how content can drive retail and cultural synergy—forming a sustainable, cross-industry ecosystem.
In closing remarks, Weimin ZHANG, Dean of ICCI, highlighted Shanghai Jiao Tong University’s strong engineering foundation, interdisciplinary strengths, and talent cultivation—all contributing vital support to China’s film, animation, and gaming industries.
The forum continues to be a major platform for dialogue on film industrialization, digital innovation, IP, and cross-sector collaboration—drawing nearly 100 Hollywood professionals over the years and serving as the longest-running U.S.–China industry exchange at the Shanghai International Film Festival.
Beyond the forum, ICCI and the Motion Picture Association have co-hosted 46 sessions of the MPA-ICCI Masterclass Program and 27 public forums.The program—recipient of eight consecutive years of support from the Shanghai Cultural Development Foundation—has featured 45 experts, including 22 from Hollywood and 7 Oscar or Emmy winners. Through masterclasses, mentorship, and project incubation, it continues to connect emerging talent with global industry networks and opportunities.