From HindustanTimes.com:

The Berlin International Film Festival is providing a snapshot of the changes in Asian cinema, as China seeks to emerge as a new movie powerhouse while Hong Kong struggles to keep up with its reputation.

Once known as the Hollywood of the East, Hong Kong’s previously prolific film industry has watched its market in Southeast Asia shrink following a run of badly received films and due to competition notably from the real Hollywood but also other parts of Asia such as South Korea.