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Editor's Note

Deciding that the cultural and creative industry would become a new pillar of Beijing’s industrial economy may have been the easiest part of setting this important industry on its way in Beijing.

Creativity is never in short supply when discussing big ideas, but when it comes time part with hard-earned cash in support of a new industry, the talkers and doers quickly part ways.

That is why the recent Second China (Beijing) International Cultural and Creative Industry Expo (ICCIE) was so important: foreign and domestic investors concluded contracts valued at US$3.83 billion (yes, with a “b”) in support of companies and their projects in Beijing and elsewhere in China. In addition, Beijing has anted 500 million yuan (US$65 million) in cash for the industry’s “launch” and policy support and industrial guidance to ensure that the industry continues to soar when it gets off the ground.

Yet, despite the big numbers, the industry, which is not without its risks, in part because of its intangible nature and high start-up costs, is still in need of venture capital.

Why? See our “Cover Story” on the cultural and creative industry beginning on page 10 to find out why and to see what industry leaders are doing to make this big idea a reality.

Businessmen are rarely ever satisfied with their companies’ performances, whether they’re good or not: they always seek improvements, new markets, higher profits and less uncertainty in the market, a happier work force, smiling investors. As an American comedian once said, “It’s always something.”

So to have three-quarters of European companies operating in China report that they are either making profits or breaking even and that they are mostly satisfied with their presence here—and in an independent survey to boot—is something we couldn’t ignore. Find out what the Europeans are saying about their China operations beginning on page 31.

It’s the party season in Beijing, and Beijing This Month Publications and its sister company the Beijing Foreign Cultural Exchanges Center held its annual “Thank You” party on December 7 at the Landmark Tower in Beijing. It was a great party and we really enjoyed entertaining the 380 guests and friends who joined us in celebration.

Along with thanks to all of our readers, we thank all of you who joined us at the Landmark Tower. You have contributed much to our success in 2007, and we appreciate it very much.