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Culture industry barriers for private sector lowered
(Xinhua)
Updated: 2004-11-06 11:17

China has lowered its threshold for the private sector to invest in the country's culture industry, said Ministry of Culture.

In an circular issued by the ministry on Nov. 3, China encourages and supports private sector to invest in businesses including entertainment, tourism, the Internet, publishing, antique and artwork in the form of independent investment, joint venture, cooperation, shareholding or licensed operation.

The private sector has become an important part of the Chinese culture industry in the past few years. The added value created by the private sector in the culture industry accounts for more than half of the total value.

The ministry will work with legislatures to draw up policies and regulations concerning the private sector's investment in the culture industry and clean up regulations that go against the benefits of the sector to create a sound environment for the sector to develop in the culture industry, the circular said.

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