Shanghai Pudong sets up 3b yuan funds for culture
- November 1, 2017
- Posted by: Yolandy
- Category: Business
The Pudong New Area announced it will set up a 1.5 billion yuan (US$226 million) fund in the next five years to “support and stimulate cultural undertakings” in the district.
Pudong will also establish an industrial fund with People.com.cn and put in another 1.5 billion yuan to invest in high quality cultural enterprises in the district.
Pudong government signed a strategic cooperation agreement with Shanghai municipal administration of culture, radio film and TV yesterday, aiming to promote cultural prosperity in the area.
The district is striving to “bring more cultural vibes across Huangpu River,” said Wang Hongzhou, head of Pudong’s publicity department.
“We will promote a public service system of culture as well as cultural industry and cultural heritage protection,” said Wu Xiaoming, art director of the administration.
Meanwhile, the district will also engage in cooperation efforts that will focus on market reform in Shanghai’s free trade zone with regard to cultural business,” Wu added. “We will also strengthen talent development and international communication.”
Wu emphasized that Pudong must build its own cultural confidence. In order to do so, the district will bring in different artistic activities, such as live music galleries and child play areas, to business districts to enrich the cultural character of malls and plazas.
The administration and Pudong government is planning to launch artifact auctions and movie making in Shanghai Free Trade Zone. The fund will annually allocate 300 million yuan to support cultural undertakings such as public-interest performances, cultural activities, refined arts and museums.
According to Huang Wei, vice-minister of Pudong’s publicity department, Shanghai Oriental Art Center has already started a concession tickets project.
“All theaters in Pudong will follow from 2018,” said Huang. He cited President Xi Jinping pointing out that China faces a contradiction between unbalanced and inadequate development and the people’s ever-growing needs for a better life.
The Pudong fund will focus on creative cultural industry and show business, with 100 million yuan allocated to promote movie making.
According to the plan, 13 percent of total GDP in Pudong will be generated from cultural industry in 2020.