TMCnet News
China to reveal details of stimulus plan for culture sectorBEIJING, Sep 11, 2009 (Xinhua via COMTEX) -- China's Ministry of Culture (MoC) is likely to release its detailed stimulus measures to accelerate the development of commercial cultural activities in the next week, said Liu Yushu, head of the Department of Cultural Industries with the ministry. Many observers say China's cultural enterprises are plagued by a lack of modern financial services and intellectual property protection. The upcoming document will outline major demonstration projects plus a number of financial incentives. Liu said the MoC is in talks with banks to provide investment and financing guidelines. The government is also encouraging the establishment of development and investment funds for cultural industries, as well as investment risk-assessment and sharing mechanisms. Equal importance will be attached to both private and foreign investors, said Liu. A catalogue of guidance on investment in cultural industries is to be published soon, which will classify cultural investment activities. |