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Gansu Opera House benefits from culture reform
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CNTV, Xinhua, October 31, 2011
It is also negotiating with cultural companies such as Shanghai Media Group for more loans.
"It is difficult for culture companies to expand business with their own capital. They need bank loans," said Huang Gaojian, president of an animation production company in southeastern Fujian Province. H The company has recently produced an animation TV serial with 9 million yuan in loans from the Fujian provincial branch of the Industrial and Commercial Bank of China.
Besides more capital inflow, increasing government spending is highly necessary for the culture industry development, Cai said.
In 2010, governments at all levels invested more than 150 billion yuan in cultural development, doubling that of 2006.
Governments of Beijing, Jilin and Hainan have all set up special funds for culture projects, and the investment has expanded year by year.
In addition, cultural companies have also received discount government loans, subsidies and enjoyed some preferential policies of land use and listing in stock market.
As a result of financial and policy supports, culture industry in China has grown at a rate even faster than the growth of GDP.
In 2010, the total output of culture industry in China hit 1.1 trillion yuan and, in some cities and provinces, the ratio has surpassed 5 percent.
In some regions, the culture industry has already become a mainstay of the local economy, Cai said.
To boost culture industry at a national scale, the government will increase the investment and further facilitate financing for the culture industry, he said.
