YINCHUAN, July 10 (Xinhua) -- Northwest China's Ningxia Hui Autonomous Region issued recently a slew of measures to promote the high-quality development of cultural industry.
In order to further stimulate market vitality, Ningxia will strive to accelerate the reform on state-owned cultural enterprises, streamline administrative approval procedures and reduce the costs of enterprises.
According to the measures, Ningxia will steadily quicken its pace in the mixed-ownership reform of state-owned cultural enterprises, promote cross-shareholding among printing and distribution enterprises, film and television enterprises and performing arts groups, as well as cross-regional, cross-industry and cross-ownership mergers and acquisitions (M&A). Social capital is encouraged to invest in the establishment of cultural enterprises.
Ningxia requires relevant administrative departments to streamline approval procedures, improve efficiency and strengthen the protection of intellectual property rights in the cultural industry.
Meanwhile, newly-founded cultural enterprises are exempt from paying property tax for self-used properties and urban land use tax for self-used land in the first three years since its registry and required to pay half in the second three years.
Ningxia will increase credit supply for cultural enterprises and develop consumer credit products.
By 2025, Ningxia will cultivate and introduce 120 cultural enterprises with prominent main business and strong strength, build and improve ten cultural industrial parks (bases) with complete functions. (Edited by Zhang Yuan with Xinhua Silk Road, zhangyuan11@xinhua.org)
A single purchase
