ANNOUNCEMENT 26 Sep 2009

September 26th, 2009 - The Chinese government revealed its intentions to boost firms in the 'cultural industry'.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 1 neutral
  • 0 liberalising

SOURCE

PRC Central People's Government, September 26th, 2009. (《文化产业振兴规划》全文发布)
http://www.gov.cn/jrzg/2009-09/26/content_1427394.htm

Inception date: No inception date

State aid, nes

In September 2009, the top-level Chinese Central People's Government published the 'Cultural Industry Revitalisation Plan' (the Plan).

The Plan detailed various tracts of cultural product and services sectors in China which would be targeted for government support.

This particular Plan is scant on exact details of the implementation these support measures. Such details would be made more clear in other documents and catalogues of beneficiary firms, please see related acts for more information.

The Plan mentions various financial measures, as follows:

  • Subsidies
  • Increased provision of loans
  • Increased provision of 'government guidance funds'
  • Preferential tax policies
  • Public acquisition of firms to promote their success

The Plan also calls for the establishment of a 'Key Firms and Projects for Cultural Exports' catalogue to be published, which indeed it was, then biannually every year after this. Please see related acts for more information.

The Plan is a direct result of the 17th National People's Congress, and is explained as being necessary in order to guard Chinese industry against the effects of the financial crisis. According to the Plan, a strong domestic cultural industry is necessary to bolster the strength of traditional industry against shocks.

AFFECTED PRODUCTS

 
N/A