The proposed $300-million film fund will help small and medium productions and boost movie development in Hong Kong, Secretary for Commerce, Industry & Technology Joseph Wong says.

He told radio listeners today that overseas countries have been playing a more active role in supporting the film industry. While Hong Kong upholds the 'big market, small government' principle, Mr Wong said the number of local film productions has dropped in recent years, to only 50 last year, and some degree of support will help revive the industry.

Mr Wong said the $300-million fund will provide all-round support to the local film industry, including training and overseas promotion, adding the proposal has received positive feedback from the trade and the public.

On assessment criteria, Mr Wong said a film development board will be set up and consult the trade on the fund's details. A committee, with members from the film industry, will be formed under the board to vet the fund's applications, taking into account the production's quality and market potential. He said the committee will scrutinise all applications impartially and with high transparency.