ANNOUNCEMENT 27 Apr 2009

April 27th, 2009 - Several Chinese ministries announced a plan detailing the provision of financial support for the export of cultural products.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

PRC Ministry of Commerce, April 27th, 2009. (商务部、文化部、广电总局、新闻出版总署、进出口银行关于金融支持文化出口的指导意见)
http://www.mofcom.gov.cn/article/fgsjk/200904/20090402649528.shtml

PRC State Administration of Press, Publication, Radio, Film and Television, September 2nd, 2010. (在国家广播电影电视总局与中国进出口银行战略合作协议签约仪式上的讲话)
http://www.sarft.gov.cn/art/2010/9/2/art_58_104.html

Inception date: 27 Apr 2009 | Removal date: open ended

Trade finance

On April 27th, 2009, two Chinese governmental bodies* announced that they would be increasing financial support for eligible firms participating in the export of cultural goods (film, television, games, etc.).

The announcement promises the provision of all manner of financial services to support activities of eligible firms. This includes provision of increased credit channels to such firms, favourable provision of loans, financial and fiscal advisory, etc.

A transcript of a speech given at a summit between the two government bodies involved* revealed that the Export-Import Bank had pledged at least USD 2.93bn (CNY 20bn) to support such efforts over a five-year period.

Eligible firms are those included in a biannual catalogue of selected producers of cultural goods, please see related act for an example of one such catalogue.

*PRC Ministry of Commerce; Ministry of Culture; State Administration of Press, Publication, Radio, Film and Television; General Administration of Press and Publication; China Export-Import Bank

AFFECTED PRODUCTS

 
N/A