The spotlight is on Hong Kong's film industry as Maggie Cheung wins the Best Actress Award at Cannes Film Festival

Hong Kong's film industry received a major boost with Maggie Cheung winning the Best Actress Award at the recent Cannes Film Festival. She is the first Hong Kong actress to win the honour at one of the world's most prestigious event.

Ms Cheung is the second Hong Kong film star to win the accolade at Cannes. Tony Leung Chiu-wa won the best actor for his role in acclaimed local director Wong kar-wai's In the Mood for Love in 2000. Cheung co-starred in that film which also won a Palme d'Or Best Director Award for Wong.

Ms Cheung won for her role as a drug addled rock star in Clean, directed by her French ex-husband Olivier Assayas.
 
Chief Executive Tung Chee Hwa in congratulating Ms Cheung said "the achievements of Hong Kong artistes in international film festivals reflects its home-grown talent," while Joe Cheung Tung-cho, permanent honorary president of the Hong Kong Directors Guild, said that Ms Cheung's award had proved to the world that the standard of the city's actors and (the movie industry) were comparable to those overseas. "It would help make Hong Kong movies more marketable overseas," he said in the South China Morning Post.

Ms Cheung's success at Cannes would also throw the spotlight on Hong Kong's vibrant film industry showcased at this month's Hong Kong International Film and TV Market (FILMART). Held from 23-25 June, Asia's premier one-stop platform for the film and TV industry will bring together leaders of the global film industry anxious to explore opportunities on the Chinese mainland now that the Cepa free trade pact is in place. 

Cepa or the closer economic partnership arrangement would allow Hong Kong companies to be granted greater access to China's entertainment market. China has revised its film regulations in the last two years, allowing more people to participate in the industry from both creative and investment perspectives. Overseas film companies interested in capitalising on China's potential growth could also benefit from Cepa by  partnering with Hong Kong companies to tap the China market. 

More details in FILMART and A simple guide to Cepa.