The 98th Cultural Industry Investment and Financing Salon was held in China's capital city of Beijing in form of an online project roadshow on July 10, according to the organizers.

The event, sponsored by the State-owned Cultural Assets Administration Center (SOCAAC) of the Beijing municipal government, attracted the participation of representatives from over 30 investment institutions and the projects roadshow was conducted by four companies.

In order to cope with the adverse effects of this year's novel coronavirus outbreak on cultural enterprises, SOCAAC utilized the form of an online project roadshow to help out Beijing's cultural enterprises.

This created a communications platform among the government, cultural enterprises and investment and financing institutions – aiming to solve the financing problems of cultural enterprises.

Dong Dianyi, deputy executive director general of SOCAAC, attended the event and said that the coronavirus outbreak this year had a great impact on all industries in China – in particular the cultural industry, which was the hardest-hit sector. Many cultural enterprises were in a quandary, Dong said.

He pointed out that the responsibility of SOCAAC was to promote the prosperity and development of cultural industry and support the investment and financing of cultural enterprises.

With the recent epidemic situation gradually improving, in the second half of the year, an encouraging range of events will take place, these include a number of investment and financing salons, project promotion meetings, summits, as well as training courses for planned-listing cultural enterprises.

There will be summits for share listings – all the events to be held are to make the best effort to build a match-making and exchange platforms for cultural enterprises, investment and financing institutions.