The 28th Hong Kong International Film Festival wraps on April 21, 2004 with two records. More than 300 films were shown within 16 days, and the festival had greeted 200 guests from all over the world, including filmmakers Marco Bellocchio, Hou Hsaio-Hsien, Sabu, Kim Ki-duk, Peter Kubelka, Zhu Wen, Ekachai Uekrongthan, while stars such as the leading actress from Eric Rohmer's Triple Agent Katerina Didaskalu, Tanaka Rena from Japan, China's leading actresses Zhao Wei, Zhou Xun, and actor Huang Jue, HKIFF Honorary Ambassador Leon Lai and Hong Kong actress Michele Reis have graced the festival with their presence.

The Festival will continue its retrospectives of Ernst Lubitsch and Shimizu Hiroshi with a series of screenings to be held from April 23 to May 23 at the Hong Kong Film Archive and Hong Kong Space Museum.

At the closing ceremony, Dr. Darwin Chen, Chairman of the Hong Kong Arts Development Council announced the incorporation of the Hong Kong International Film Festival Society Limited. (List of Board of Directors is attached in Appendix 1). He also officiated a handover ceremony with the Chairman of the new company, Mr. Wilfred Ying-wai Wong, JP (Dr. Chen presented the HKIFF logo to Mr. Wong). The incorporation of the new HKIFF Society symbolizes a new era, allowing the film festival to operate with more flexibility and efficiency, providing more programmes throughout the year while continuing to flourish as a world class film event.

The 29th HKIFF will be held from March 22 to April 6, 2005, with Hong Kong Filmart 2005 being launched and the 24th Hong Kong Film Awards Presentation Ceremony taking place within the same period. Meanwhile, the HKIFF Society will organize year-round repertory screenings starting from July 2004.