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October 27, 2016

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Cultural trading via FTZ soars

INTERNATIONAL cultural trade conducted through the Shanghai free trade zone soared 100 percent year on year to 20 billion yuan (US$3 billion) last year.

More than 400 domestic cultural enterprises have established a presence at the National Base for International Cultural Trade (Shanghai) in the FTZ, Ren Yibiao, general manager of the base, said yesterday.

The base has also attracted more than 10 billion yuan of investment, he added.

As a public platform serving Chinese cultural enterprises, particularly small and micro businesses or even individuals, the base supports mass entrepreneurship and innovation with legal services and expertise for international market expansion and capital operation.

The base plans to facilitate 100 billion yuan of international cultural transactions during the 13th Five-Year (2016-2020) Plan period, Ren said during the Conference on Chinese Cultural Product Marketing.


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