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Cultural development investment fund in Shandong reaches 1 bln yuan

2019/10/14 16:55:11   source:sdchina.com

According to the provincial financial authority, the provincial finance has played an active role in promoting the expansion of the scale and the strength of cultural development investment fund by striving investment from the central finance and coordinating provincial financial support on culture. At present, the total fund scale reaches 1 billion yuan, providing strong support for the transformation of cultural industries from old drivers to new ones.

ESTABLISHING SUB-FUNDS AND ATTRACTING SOCIAL CAPITAL

The provincial cultural development investment fund together with local finance and social capital has set up sub-funds in Yantia, Jinan and Weifang successively. In the near future, the provincial cultural development investment fund will also contribute to the establishment of sub-fund in Zhucheng of Weifang to continuously increase the layout of fund across the province, effectively enlarge the radiation of the fund’s leading role, and expand the influence of the fund.

SERVING CULTURE AND CARRYING OUT DIVERSIFIED INVESTMENT

Based on the real economy, the fund gives priority to investment in cultural and culture-related industries, which covers fields of film and TV, entertainment, cultural facility, culture and sports, performance management, cartoon games and digital creative industry. Through various forms, the fund has provided financing service to 32 enterprises both inside and outside the province, led or participated in 20 cultural projects, invested in and produced 8 film and TV series, providing firm support for the long-term development of enterprises and industries.

CULTIVATING LEDING ENTERPRISES AND PROMOTING INDUSTRIAL UPGRADING

The fund has made great efforts to tap into the opportunities of the Unicorn enterprises and Gazelle Company and provide support for the leading enterprises in culture-related industries. In addition, the fund also strives to strengthen post-investment service and help the enterprises to go public and realize sound development.

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Sponsor:Information Office of Shandong Provincial People’s Government