BEIJING, July 5 (Xinhua) -- China’s Beijing government authorities released a document to promote development of the cultural and creative industries, the Xinhua-run cnstock.com reported on Thursday.
According to the document, Beijing strives to cultivate one or two leading cultural and creative enterprises with annual revenues of more than 100 billion yuan and more than five leading enterprises with annual revenues of more than 50 billion yuan within five years.
It aims to see the city's local state-owned cultural enterprises assets reach 260 billion yuan, with their operating income exceeding 60 billion yuan by 2020.
Meanwhile, Beijing will focus on areas such as network audio-visual, online games, film and television investment, mobile reading, and international media services, and support mergers and acquisitions (M&As) and listing of the local cultural and creative enterprises.
It will improve the investment and financing services for cultural and creative industries, and encourage cultural and creative enterprises to rationally use capital market instruments such as bonds, bills, fixed-income, M&As to expand the scale of direct financing.
In addition, Beijing will encourage insurance institutions to strengthen innovation in insurance products in cultural and creative industries, and actively carry out insurance protection services in intellectual property, film and television, performing arts, sports, exhibitions, and tourism, and improve the cultural and financial intermediary service market system and enterprise credit evaluation system. (Edited by Hu Pingchao, hupingchao@xinhua.org)
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