Liu Shaojian, the Party chief and director of the SOCAAC, conducts the summit. [Photo/bjwzb.gov.cn]

A strategic cooperation agreement was signed for building up the Training Base for Companies Preparing for IPOs between National Equities Exchange and Quotations Co Ltd (NEEQ) and the Beijing State-owned Cultural Assets Management Center (SOCAAC) at the 2020 Capital Cultural Industry Investment and Financing Summit held in Beijing on Dec 9. 

The summit is the most influential investment and financing event for the cultural industry in Beijing. It was held in parallel with the annual conference of the Beijing Training Base for Companies Preparing for IPOs.

More than 1,000 representatives from the government, cultural enterprises and financial institutes attended the event on site or online.

The 2020 annual report of the Beijing Training Base for Companies Preparing for IPOs was released by the SOCAAC. It states that there are 42 A-share listed cultural enterprises based in Beijing, which had total 2019 operating revenue of 152 billion yuan ($23 billion). Their aggregate market value had surpassed 530 billion yuan ($81 billion) by the end of September this year. 

In recent years, the SOCAAC has been developing a data base for local cultural enterprises which already records investment and finance data of more than 22,000 companies. 

The State-owned and municipal government financed company Beijing Cultural and Creative Category Development Co Ltd was officially inaugurated at the summit to further promote the listing and financing of high-quality cultural enterprises. It will also cooperate with financial institutions to support cultural enterprises in the listed reserve database. 

In addtion, Beijing has put great effort into building cultural and finanical infrastructure hrough investment in cultural industries.