27 February 2020

China to step up reform of cultural industry, paper says

China will accelerate the reform the country’s cultural sector, China Securities Journal reported Wednesday, citing a statement released after the third plenary session of the 18th Communist Party central committee that ended Tuesday. The party plenum pledged to build a modern public cultural service system and a modern cultural market system, the report said. Business experts were quoted as saying the government may further encourage mergers and acquisitions among state-owned cultural enterprises while lowering thresholds for private investment in the cultural industry.

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