The State-owned Cultural Assets Administration Center of the People's Government of Beijing Municipality, or SOCAAC, is making moves to improve the system and mechanisms for cultural creation and production that puts social benefits first and integrates social benefits with economic benefits.

In order to do so it plans to focus on Beijing's construction plan as a national cultural hub.

It will strive to strengthen the development of the management system for State-owned cultural assets and lay down the foundation for promoting the reform of State-owned enterprises and strengthen the supervision of State-owned assets in accordance with the law.

According to SOCAAC officials, Beijing has successively issued 33 regulatory documents on the supervision and management of State-owned cultural assets.

They cover 10 categories, including comprehensive management, enterprise investment and financing management, property right management.

These have basically established the institutional framework for the supervision and management of State-owned cultural assets and played an important role in the supervision of State-owned cultural assets.

SOCAAC will respond and adapt to the situation of deepening the reform and development of the cultural system and further improve the management system of State-owned cultural assets.

SOCAAC plans to study and issue normative documents in such areas as investment supervision and management, as well as housing rental management for SOCAAC-funded enterprises within this year.

This is so as to further strengthen their supervision and promote the development of these enterprises.