The Taihu Lake Film and Culture Industry Investment Summit is held in Wuxi on June 20. [Photo provided to wuxi.gov.cn]

The Taihu Lake Film and Culture Industry Investment Summit was held at Wuxi Studios, a national digital film industrial park in Binhu district, Wuxi, on June 20.

The summit's opening ceremony took place in China's largest 5G-enabled virtual studio, which is equipped with a screen spanning 44 meters.

The 5G smart virtual photograph joint laboratory was launched at the summit. Constructed by the China Research Institute of Film Science and Technology and Wuxi Studios, the lab consists of a 5G smart virtual photograph center, an AIGC film and televison innovation center, and an intelligent computing center.

The lab will eye cutting edge technology in the global film industry, focus on the innovative application of new-generation information technology and smart technologies in film shooting and production, and cultivate an outstanding team in 5G smart virtual photography.

Wuxi Studios, a national digital film industrial park in Binhu district, Wuxi. [Photo provided to wuxi.gov.cn]

The opening ceremony also witnessed the launch of a development plan for Wuxi Studios, which states that over the next 10 years, Wuxi Studios will focus on the digital transformation and upgrading of the film and television industry to become a model for the global film and television industry.

Funds with a total value of nearly 3 billion yuan ($418.14 million) were also established in Wuxi that same day to provide financial support for the local film and television industry.

Keynote speeches, sharing sessions, and film and television investment project roadshows were also held during the summit for participants to interact and talk with each other.