China Lowers Culture Industry Threshold for Private Sector

2004/11/15
Brief by David Seto

China has lowered its threshold for the private sector to invest in the country's culture industry, said Ministry of Culture.

In an circular issued by the ministry on November 3, China encourages and supports private sector to invest in businesses including entertainment, tourism, the Internet, publishing, antique and artwork in the form of independent investment, joint venture, cooperation, shareholding or licensed operation.

The private sector has become an important part of the Chinese culture industry in the past few years. The ministry will work with legislatures to draw up policies and regulations concerning the private sector's investment in the culture industry and clean up regulations that go against the benefits of the sector to create a sound environment for the sector to develop in the culture industry, the circular said.



	Article featured in Business Beijing, November 2004 Publication sponsored by Information Office of the Beijing Municipal Government, Beijing Municipal Bureau of Commerce, Development & Reform Commission of Beijing Municipality, China Council for the Promotion of International Trade (Beijing Sub-Council)