Jackie Chan made the successful move into Hollywood films

Each movie will have an average budget of around HK$10m (�886,445).

Last year the Hong Kong film industry saw a sharp increase in box office takings.

Easing of controls

Figures were up 24% to HK$478.98m (�42.45m), with local films accounting for 47% of the total.

There were 144 Hong Kong films released in 2001.

An easing of controls on private sector funding in film has led studios to promise a greater number of productions during the year.

An increase in overseas demand has also led to the buoyant outlook.

Hong Kong-listed China Star Entertainment has said it will make about 20 to 30 films during 2002, with a budget of up to HK$300m (�26.5m).

Decline

One of the region's biggest studios, Shaw Brothers, plans to produce 10 films, while Universe International has slated 12 movies.

Crouching Tiger is the most successful foreign language film ever

Although the territory's film industry enjoyed success in the 1980s, it declined in the 1990s and actors and technical talent moved overseas.

Jackie Chan and Crouching Tiger star Chow Yun Fat have been Hong Kong's biggest acting exports.

Hong Kong used to produce up to 300 films a year, making it the third most prolific industry behind India and the United States.

But the decline saw this number drop considerably, until less than half this number were going into production.