The founding ceremony of the Beijing Cultural Creative Industry Association is held in Beijing on June 16.

The Beijing Cultural Creative Industry Association (BCCIA) was founded for industrial development and integration in Beijing on June 16. At the founding ceremony, BCCIA signed a strategic cooperation agreement with the Industrial and Commercial Bank of China (ICBC) Beijing branch, and the Bank of Beijing.

These two banks will provide at least 20 billion yuan($3.04 billion)of special funding, a “Green Preferential Price”, and a “Green Approval Channel” to BCCIA. In the future, the banks will provide more cultural financial products and services which are consistent with their loaning policies and the requirements of specific companies.

BCCIA is a non-profit organization founded by cultural creative companies in Beijing under the guidance of Beijing State-owned Cultural Assets Supervision and Administration Office (SOCASAO). It has a membership of 315 companies, including the Poly Culture Group, the Beijing All Media and Culture Group (BAMC) and Enlight Media.

The Beijing municipal government has put great emphasis on the cultural creative industry in recent years. The numbers of major cultural companies and the amount of cultural consumption have both increased. In 2014, cultural companies achieved total revenue of 279.43 billion yuan, accounting for 13.1 percent of Beijing’s GDP, the highest ever in history. By the end of 2014, there were 171,000 cultural companies, a year-on-year increase of 15.8 percent. Many more cultural companies are now applying to join the association.

BCCIA will integrate cultural resources and build a platform for cultural companies to communicate, cooperate, and share information with each other. It will also act as a bridge to strengthen the connection between companies and the government.

At the founding ceremony, BCCIA signed an agreement with the Tianjin Cultural Industry Association and the Hebei Cultural Industry Association to build a cooperation platform for cultural companies in their respective areas. This is the first time that the cultural creative industries in Beijing, Tianjin and Hebei have been promoted by industry organizations.

The three associations will carry out industry research, support major cultural creative projects of member companies, help construct investment and funding systems, and enhance the integrated development of culture, finance, and technology. They will promote connections between the member companies through seminars, lectures, and promotional meetings.