Financial products designed for Beijing cultural industry parks are unveiled at the awards ceremony on Aug 21. [Photo/bjd.com]

At an awards ceremony held in Beijing on Aug 21, 98 of its cultural industry parks were presented with the municipal titles of model cultural industry park, model cultural industry park nominee and shortlisted model cultural industry park, according to local media reports.

Of the 98 industrial parks, 74 are located in the four central urban areas of Beijing at Dongcheng district, Xicheng district, Chaoyang district and Haidian district -- and of which 32 recognition-winning industrial parks are located in Chaoyang district.

Local officials said the recognition of the 98 industrial parks could be seen as a new watershed for the development of Beijing's cultural industry. About 60 percent of them were transformed from old factory buildings.

The leading industries in these parks cover news and information services, content creation and production, creative design services, cultural communications channels and other core cultural fields. Officials said they reflect the development advantages of Beijing in the integration of culture and science and technology, culture and finance.

By the end of 2019, according to local officials, the parks have attracted 9,540 enterprises, of which, 7,337 are cultural enterprises. These included tech giant Tencent, Sina, Netease, Enlight Media and other well-known enterprises in the core cultural fields, as well as growth-oriented cultural enterprises and many small and micro cultural enterprises.

Officials said that cultural enterprises that had settled in the parks accounted for 76.9 percent of their total corporate residents. Last year, these industrial parks' cultural enterprises reported a combined total income of 782.81 billion yuan ($113.19 billion) and paid taxes of 28.62 billion yuan.

At the ceremony, the organizers also cooperated with China Mobile to launch the construction of a smart industrial park and jointly launched exclusive financial products for cultural industry parks, with four banks to further support their development.