BEIJING, May 13 (Xinhua) -- Jiangxi Province in East China has rolled out cultural enterprise loans to help small- and medium-sized cultural firms solve financing problems and boost the high-quality development of its cultural industry, reported Jiangxi Daily Wednesday quoting the province's publicity department.
Cultural enterprise loan is a kind of preferential loans issued by cooperative banks targeting small- and medium-sized cultural firms meeting certain conditions.
The term of cultural enterprise loans shall be no longer than three years, while the amount shall not exceed five million yuan in principle. The loan amount for enterprises of superior quality shall not exceed 10 million yuan.
The province also set up risk compensation for cultural enterprise loans to mobilize the initiative of financial institutions by providing certain compensation to them for losses arising from granting loans to small and medium-sized cultural enterprises.
It's learned that Jiangxi will also make efforts to integrate regional characteristic cultural and financial resources, deepen financial supply-side structural reform, and promote innovation in cultural and financial policies, in a bid to push forward high-quality development of its cultural industry. (Edited by Gu Shanshan with Xinhua Silk Road, email@example.com)