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The Present Principal Obstructions Curbing the Integration of Financial Capital with Cultural Industry(No.76, 2016)


By Xu Pengcheng, Member of the Asset Management Office, DRC

Research Report No.76, 2016 (Total 4959) 2016-6-2

Abstract: The Third Plenary Session of the 18th CPC Central Committee came up with the decision to integrate financial capital with social capital and cultural capital while the 13th Five-Year Plan proposed to build the cultural industry into a pillar one in China. At present, with promoting the supply-side reform and reconstructing a new relationship between supply and demand, the development of cultural industry can play an irreplaceable role in stabilizing the economic growth, promoting the reform, adjusting the structure, improving people’s livelihood, preventing risks and strengthening China’s soft power. However, China's cultural industry mainly originated from the reform of cultural system. Compared with other sectors, it got off to a late start with a weak foundation. Due to its particularity, the source of investment for cultural industry is quite limited. In addition, the system of financial intermediary rendering service to cultural industry is incomplete, the supporting laws, regulations and policies are inappropriate, the integration of cultural industry with financial capital is inadequate, and there are prominent difficulties relating to financing, which have seriously restricted the rapid development of cultural industry.

Key words: cultural industry, financial market, investment and financing