On Sept 1, the 11th China Cultural and Financial Innovation Conference was held in the Preface Hall of the Beijing Cultural Industry Promotion Center.

On Sept 1, the 11th China Cultural and Financial Innovation Conference is held in the Preface Hall of the Beijing Cultural Industry Promotion Center.[Photo/SOCAAC]

The conference was led by the Beijing State-owned Cultural Assets Administration Center (SOCAAC), and hosted by the Beijing Cultural Industry Promotion Center, organized by Zero2IPO. It was co-organized by Dongcheng District Cultural Development Promotion Center and Xicheng District Cultural and Creative Industry Promotion Center, Beijing Cultural Industry Investment and Financing Association, Beijing Supported by Cultural and Creative Board Development Co., Ltd.

In the first half of this year, the city's cultural industries above designated size achieved an income of 819.61 billion yuan ($128 billion); the total profit was 68.68 billion yuan, a year-on-year increase of 9.2%. In 2021, Beijing will continue to lead the country in the field of cultural investment and financing. Fourteen    new cultural enterprises were added throughout the year, accounting for 30 percent of the national total, ranking first in all provinces and cities. The initial financing scale was as high as 74.21 billion yuan, a year-on-year increase of 99.1 percent, and the number of cases was 12, ranking first in the country in terms of financing scale and number of cases. A total of 531 financing events occurred throughout the year, accounting for 22.1 percent of the national total; the scale of capital inflows reached 99.97 billion yuan, accounting for 26.6 percent of the national total.

Liu Shaojian, secretary and director of the Party Committee of the Beijing State-owned Cultural Assets Administration Center (SOCAAC), delivered a speech  at the conference. [Photo/SOCAAC]

At the conference, the "Top 20 Cultural and Creative Enterprises with Investment Value in Beijing in 2022" was released, which attracted widespread attention. As of 2022, Beijing Cultural Industry Promotion Center and Zero2IPO have released the "Beijing Investment Value Cultural and Creative Enterprises List" for 11 consecutive years, with over 4,300 participating companies, and a total of 432 companies on the list. As of July 2022, the listed companies have disclosed a total financing amount of 52.865 billion yuan.

In addition, the conference released the "2022 Beijing Cultural Industry Investment and Development Research Report".