Representatives from the SOCAAC and Shenzhen Stock Exchange sign a strategic cooperation agreement at a key Beijing financial summit on Nov 27. [Photo/bjwzb.gov.cn]

The 2019 Capital Cultural Industry Investment and Financing Summit -- as well the annual meeting for a training center for planned stock exchange listed cultural companies -- were jointly held in Beijing on Nov 27, officials said.

The summit was sponsored by the State-owned Cultural Assets Administration Center of the People's Government of Beijing Municipality -- or SOCAAC, the Bank of Beijing, Shanghai Stock Exchange or SSE, Shenzhen Stock Exchange or SZSE and the Hong Kong Stock Exchange or HKEX.

Officials said the summit attracted the participation of over 500 representatives from governments, cultural enterprises and financial institutions.

At the summit, the SOCAAC signed a strategic cooperation agreement with the SZSE to further expand the Beijing training center for planned listed cultural enterprises.

The signatories also further strengthened the listing services for Beijing cultural enterprises on the stock exchange's small and medium-sized enterprises -- or SME -- board and the growth enterprise board.

According to SOAAC officials, in near future, it   will also sign a strategic cooperation agreement with the HKEX.

During the summit, representatives from the SSE, SZSE and HKEX gave keynote speeches including one on the stock market sci-tech board, another about how multi-level capital markets support the development of cultural industries -- and another on how Hong Kong's capital market helps Beijing's cultural enterprises to develop internationally.

In addition, in a round table discussion segment representatives from cultural enterprises and institutions discussed such topics as the culture industry, cultural finance, Beijing's development as a culture capital and the international development of the culture industry. Meanwhile, 10 projects were promoted at the summit.

In May 2018, the SOCAAC and SSE jointly established the training center in Beijing for planned listed cultural enterprises, becoming the first stock exchange cultivation facility specializing in serving cultural enterprises in China.

The center mainly provides services for capital market financing of listed enterprises, planned listed enterprises and innovative and entrepreneurial enterprises operating in Beijing's cultural industry.

According to SOCAAC officials, the summit is one of the most important measures to optimize the business environment of the cultural industry and help the high-quality development of the capital's economy.

SOCAAC said it plans to set up a Beijing cultural development fund, a cultural and creative board and a cultural and creative bank.

It also plans to issue a preferential rent policy, improve an investment and loan awards policy and offer more and better services for cultural enterprises in the capital.

In the future, the Beijing training center will focus on accurate services, offering better and comprehensive services -- while strengthening resource sharing and expanding conditions for mutual cooperation.