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Cultural Market Construction

2017/6/2

Qingdao is a historical and cultural city, with a long history.

Shandong Encourages Merger and Reorganizing of Cultural Companies across Regions, Industries and Ownership

Recently Shandong released Opinions on Accelerating the Development of Cultural Industry to promote the growth of cultural industry and major companies. According to the document, Shandong will take steps to optimize the financing climate and encourage cultural companies to raise funds in domestic and overseas capital market. Shandong aims to become a national cultural market highland by 2020.

Promoting Scale Expansion through Bank-Enterprise Cooperation

The Opinion formulated by Shandong Province emphasizes scale expansion of cultural industries through cooperation between cultural companies and financial agencies, and subsidizes the actual loan interests on key projects.

The major state-owned cultural enterprises are encouraged to carry out the transformation and structure adjustment at the same time by breaking down regional and industrial barriers. The mergers and reorganization linked by capital among different regions, industries, and ownership will foster strategic investors in cultural industry. By means of capital investment, program development assistance and assets transfer, Shandong supports major cultural companies to expand their business by going public and financing, and issuing industry funds, equity funds and bonds.

Shandong encourages cultural companies among Fortune 500 to set regional headquarters and cultural companies among China’s Top 100 to set office, R&D base or marketing center in Shandong province. Units that introduce major foreign invested programs will receive rewards or remunerates. In addition, Shandong province will select about 10 cultural programs with distinct advantages, great potential and sustainable growth as the key ones, which will receive greater support from the government including guidance from specified government officials, enhanced follow-up services and periodic scheduling.


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