New situation

Liu said film fans sometimes yearn too much for the glory days of Hong Kong cinema in the 20th century. In the early 1990s, the city produced an average of 175 movies annually, 4 times the number last year.

The boom in the 1980s and '90s coincided with the ready availability of investors and talent, access to markets at home and abroad－and more important－a lack of competitors. As these factors have changed significantly in the past 30 years, decline was inevitable, according to Liu.

He called for a "reasoned view "of the current situation, adding that it is remarkable that Hong Kong can still produce several memorable films each year.

There has been a noticeable decline in iconic action films made in the city, which brought actors such as Bruce Lee and Jet Li to the world stage. Hong Kong is no longer a place where performers are willing to risk life and limb for a stunning shot, Liu said.

To keep moviegoers in suspense, filmmakers may have to work harder on intellectual engagement and elements of surprise, he said.

Raging Fire reprises the days of the fighting spirit. Yen, who starred in the Ip Man films－a series of Hong Kong biographical martial arts movies centered on grandmaster Ip Man (1893-1972)－relaunches his battle in a modern city. He demonstrates classic impromptu use of a bulletproof vest and a plastic bag soaked in sewage, and even uses piano keys as weapons.