Formal co-production treaties are increasingly being signed by governments and national film bodies in Asia. The objective is to have films qualify as 'local' in more than one country and therefore access multiple subsidy funds and/or be optimise release conditions. In this respect they are replicating some of the experiences pioneered by European governments and production sectors. However different countries within Asia have very different subsidy conditions, ranging from generous to zero.

- Should this be changed?

- Will some countries overtake others thanks to different government attitudes?

- Can formal co-productions help create an "Asian film industry"?

- Can formal co-productions connect Asian cinema with world audiences?

- What are the downsides of co-productions?

Or will producers and distributors simply continue to hatch (non-treaty) co-productions when it suits the material, the talent or the finance? After all nearly every Hong Kong film made these days is a co-production of sorts with the Chinese mainland.