1 The Film Production Company Hollywood studios and industry analysis Media industry studies and the independent production company Hong Kong film companies: past and present Conclusion2 Hong Kong Film Industry in Transition Industry in crisis Production companies in transformation Conclusion3 Bringing the Old to the New: Formation and Development of Milkyway Milkyway as a business entity Milkyway as a creative team Conclusion4 From Hong Kong to the Mainland: Milkyway's Production and Business Practices Establishing a brand for the Hong Kong audience Expanding into the mainland Chinese market Conclusion5 In Defence of Hong Kong: Milkyway Films' Domestic Critical Reception Hong Kong's film community since the mid-1990s Milkyway films as mirrors of Hong Kong Redefining Hong Kong cinema through Milkyway films Conclusion6 Shaping Hong Kong Cinema's New Icon: Milkyway at International Film Festivals Debut: specialised film festivals Breakthrough: Cannes, Berlin, Venice and Toronto Beyond and after major festivals Conclusion7 Defining Hong Kong Cinema through Distribution: Milkyway Films in the United States The 'return' of Hong Kong film The 'disappearance' of Hong Kong identity The Chinese connection Conclusion8 Building a Hong Kong Studio Brand: Milkyway's Changing Image in Overseas Critical Reception Milkyway as an invisible factory Milkyway as a period in Johnnie To's career Milkyway as a house style and a brand per se Conclusion