Three things are important for setting up a business: location, location, location.
This can also apply to films, producers agreed at a key meeting in Beijing.
Another topic raised at the International Film Industry Development Seminar on Tuesday highlighted that greater cooperation between Chinese and US producers is the latest twist for an industry that is undergoing rapid change.
The seminar, sponsored by the China Council for the Promotion of Trade Beijing Sub-Council and Beijing Bureau of Radio, Film and Television, was held during the China Beijing International Cultural & Creative Industry Expo.
Countless films have been made with locations playing a lead role. Movies such as Sleepless in Seattle and Farewell My Concubine, to name just two, were both released in the early 1990s and showcased the attractions of Seattle and Beijing.
Another example of a film being associated with a location is the low-budget Chinese comedy Lost in Thailand.
With a production budget of 26 million yuan ($4.27 million). Lost in Thailand raked in 1.27 billion yuan in box office revenue, becoming the highest-grossing Chinese film in history so far.
Its stunning scenery has boosted Thailand's tourism industry but it probably cost one person his job.
"Before the release of the film, we approached a travel agency to discuss developing a travel route shown in the comedy. But the person in charge of the agency didn't anticipate its potential and rejected the plan. He was soon removed from his position after the movie's incredible success," said Wang Changtian, president of Beijing Enlight Media Co Ltd, producers of the comedy.
Quality, though, does not come cheaply, and Wang said at least 15 million yuan is required to make a good film.
However, this could easily rise to up to 60 million yuan if the cast includes top stars, he added.
Wang also thinks that Chinese cities haven't done enough to attract film crews. Most of the favorable policies or subsidies just attracted the film enterprises to locate or be stationed there but offer no following support for the actual filming.
Exchanges between Chinese film producers and their Hollywood counterparts have become more frequent in recent years.
"As a Chinese filmmaker, I believe we should remain rational regarding this trend.
"The current priority should be to focus on shooting good movies for our own domestic audiences. The ambition to make Chinese movies popular among global audiences is not something that should be given much consideration right now, and people should not be in a hurry to realize this goal," said Xie Fei, director and professor at the Beijing Film Academy.
But Hollywood has problems too. Michael Peyser, a Hollywood film producer and the founder of Chicago International Film Festival pulls no punches.
"Yes, we're bankrupt regarding ideas. That's true. And that's why independent films are important.
"Now independent films are enjoying a revival and the Hollywood studios are watching this because the 'blockbusters' are struggling and the small films are beginning to be noticed," Peyser said.
Wang, from Enlight Media, said: "Hollywood studios' attitude toward Chinese industry players is undergoing a dramatic change.
"Now they're willing to give us access to their good-story productions," he added.
According to Xie, China's box office will hit $3 billion this year. It is expected to exceed the North American market within five years.
