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White paper on Beijing cultural finance published

|Updated : 2020-08-03

A white paper on culture finance was published in Beijing, compiled by 13 department and municipal government units of the national capital, local officials said recently.

They said the Beijing Culture Finance White Paper (2019) was officially published recently, according to a July 31 news report on the website of the State-owned Cultural Assets Administration Center, SOCAAC, of the Beijing municipal authorities.

Officials said that based on documents from the National Bureau of Statistics, the white paper analyzes the data on bank credit, bonds, financial leasing, private equity and the public financing market.

It shows and summarizes the development of Beijing's culture funding since the 18th CPC National Congress in 2012.

At the same time, the white paper makes an in-depth analysis on the development process, policy measures and system construction of Beijing's cultural funding, focusing on the "Beijing mode" of integrating culture and finance.

Officials said that the white paper, for the first time, comprehensively analyzes the industrial data and frontier trends of Beijing's cultural financing.

It also systematically summarizes the development achievements and experience of Beijing's cultural funding. According to the statistical results, the scale of Beijing's cultural financing market is leading in the country with a rapid growth rate.

Officials said the equity financing market and the debt financing market in Beijing are experiencing good, synchronous development.

They said the financing structure is being further optimized, providing strong support for the high-quality development of the cultural industry. In addition, the scale of bond financing in the Beijing cultural finance market ranked among the top three in China, they added, while the scale of private equity financing remained the leader in China.

Officials said that furthermore, Beijing has made "remarkable achievements" in cultural finance innovations -- with well-developed cultural finance institutions -- and it has continued to optimize its services and products.

They said the national capital has taken the lead in developing the intangible assets financial leasing business of cultural enterprises.

It successfully issued the first securitization product for the intellectual property assets of cultural enterprises, leading the way forwards for the development of cultural finance innovations in the whole country.