Date
11 December 2017

Ministries boost financing for corporate culture, paper says

The Ministry of Culture, the People’s Bank of China and the Ministry of Finance have teamed up to promote financial support for cultural companies, the Shanghai Securities News reported Tuesday. The China Cultural Industry Association has also filed an application with the China Banking Regulatory Commission to set up a China Culture Industry Development Bank, which will focus on offering loans and credit to cultural companies. As of the end of 2013, there were 77 culture-related companies listed in Shanghai and Shenzhen, and 57 culture industry investment funds managing a combined 135 billion yuan (US$21.788 billion), the People’s Bank of China said.

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