Inaugurated in 1951 as China Film Corporation, China Film Group Corporation (CFGC) was conglomerated in 1999 as the most comprehensive and extensive state-owned film enterprise in China with the most complete industry chain that facilitates film production, distribution and exhibition as a coordinated process and integrates film, TV and video into one single entity. It has a whole bunch of fully funded subsidiaries, proprietary and joint stock companies, joint ventures, and a movie channel.