China is set to unveil some guidelines to promote the development of the cultural industry, Shanghai Securities News reported Friday, citing an authoritative source. The guidelines will aim to foster joint development of the industry, design services and related businesses; cooperation between the industry and financial institutions; and support for small cultural firms, the report said. The government’s special fund for the cultural industry will have the financial support plan as key agenda this year, offering interest subsidy for cultural firms that have been repaying their loans and interest on time, a source from the China Cultural Industry Association was quoted as saying. Data showed loans for the cultural industry accounted for just 0.2 percent of the total loans to various industries nationwide, pointing to room for more support, the report said.
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