On July 6, the first council of QingDao Movie Studios Movie and Television Industry Development Special Fund was formally established in Qingdao Municipal Bureau of Culture, Radio, Broadcasting and Technology. The QingDao Movie Studios special fund for the development of the film and television industry was established by the group, together with the Qingdao Municipal Government and the Huangdao District Government, with a joint investment of RMB 5 billion. The signing of the agreement marked the official landing of China's first film and television production subsidy policy based on international standards.