BUENOS AIRES -- Argentina's national film institute Incaa has opened a theater in Beijing, a latest move to expand the reach of the country's films and drum up co-production coin.

Incaa will program the one-plex Espacio Incaa from Buenos Aires with Argentine and Latin American films subtitled in English.

A goal of the initiative is to "find co-production funds," an Incaa spokeswoman said.

Argentine producers rely heavily on limited state finances, forcing them to raise at least 30%-50% of the average $1-$1.5 million budget elsewhere, primarily from European producers.

With costs on the rise at home, an expansion in the number of potential production partners would help keep up Argentina's production pace of 60-70 features a year and spread out exhibition internationally.

Incaa, which also has theaters in Madrid, New York and Paris, has signed co-production deals with France and Italy and is in talks with China's Hengdian studios group on the construction of Ciudad del Cine (Cinema City), a 500-acre studio complex in Argentina.

© Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.

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