China's Ministry of Culture and Tourism backs cultural enterprises to raise funds via IPOs, equity, bonds
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On September 18, China's Ministry of Culture and Tourism released the '15th Five-Year Plan for the Development of the Cultural Industry,' outlining measures to boost financial support for the sector. The plan encourages banking institutions to increase credit to cultural enterprises and supports the development of innovative financial products. It explicitly enables qualified cultural enterprises to raise funds through IPOs, equity financing, and bond issuance. Additionally, the plan guides venture capital firms to invest more in early-stage and growth-stage cultural companies, encourages insurance institutions to expand services, and promotes the issuance of Real Estate Investment Trusts (REITs) for qualifying cultural infrastructure projects. The Culture and Tourism Financial Service Center's role in improving investment and financing services is also to be enhanced. This policy aims to align financial services with the cultural industry's needs and foster its growth.
Source report
Jin10 Data, September 18 — The Ministry of Culture and Tourism has recently released the 15th Five-Year Plan for the Development of the Cultural Industry. The plan outlines several key initiatives to advance the sector:
- Promote innovation in cultural financial services and products, and guide precise alignment between financial services and the needs of the cultural industry.
- Encourage banking financial institutions to strengthen credit support for cultural enterprises.
- Support financial institutions in developing innovative financial products and services tailored to the characteristics of the cultural industry.
- Enable qualified cultural enterprises to raise funds through IPOs, equity financing, bond issuance, and other channels.
- Guide venture capital firms to increase investments in early-stage and growth-stage cultural enterprises.
- Encourage insurance institutions to expand insurance services for cultural enterprises.
- Promote the issuance of Real Estate Investment Trusts (REITs) in the infrastructure sector for qualifying cultural industry projects.
- Enhance the functions of the Culture and Tourism Financial Service Center to improve investment and financing services for the cultural industry.
Source
金十数据Eastern
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China issues 15th Five-Year Plan targeting cultural industry leap by 2030