Beijing municipal Publicity Department, and Beijing Municipal Bureau of Financial Works jointly drafted “Opinion on financial promotion of capital culture innovation”, which states the Beijing municipal government will invest total of 400 M RMB in the next four years in support of culture innovation and aims to support 50 new IPOS related to the culture industry.

From the content of the ‘Opinion”, Beijing will speed up the development and innovation of credit system, direct financing system, and equity system for culture related industries.

On the development of credit system, the ‘opinion” points out the promotion and support of banking system to diversify its financial product in order to properly support the development of capital’s culture industry. It also includes plans to further improve small loan companies to better service SMEs in the culture industry.

As of 2011, Chinese banks loan balance for culture industry reached 44.45 billion RMB, an 84.7% growth rate from same period 2010.

On direct financing, the “opinion” advocated support for culture and creative enterprises to be listed, aimed to have 50 public companies by the end of “12th five year plan”.

As currently, there are 50 listed culture and creative companies. Of which, 38 companies are in software, internet and computing services. Seven companies are in broadcasting, television and movies sectors, and five in entertainment, travel, and news publishing sectors.

“Opinions” also referred to support cultural and creative enterprises to issue debt instruments, implementation of mergers and acquisitions, and the use of insurance funds, trust funds, and leasing financing.

As of Q1 2012, there are having been two investment cases in the culture and creative industry, with a total value of 32 M RMB.