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Innovation-Oriented Financial Support Policies for the Development of Cultural Industry during the 14th Five-Year Plan Period: Difficulties and Major Breakthroughs (No.58, 2021)
2021-05-13
By Chen Feng & Zhang Xiaohuan, Research Institute of Public Administration and Human Resources, DRC
Research Report, No.58, 2021 (Total 6123) 2021-3-17
Abstract: Since the implementation of the 13th Five-Year Plan, China’s innovation-oriented financial support policies for the development of cultural industry have revealed a sound performance. Various market entities have made vigorous innovations in terms of organizational structure and provided financial products and services with high added value and distinctive features, presenting a positive interaction between policy promotion and market innovation as well as an active coordination between the overall planning and the performance of different financial institutions. But it needs to be noted that some financial institutions still followed the traditional development mode, failed to leverage the value of companies’ key cultural resources, and were sluggish to push ahead with the innovation of financial products and services catering to the development features of cultural industry. During the 14th Five-Year Plan period, we need to make further efforts in innovation Endeavour to meet the needs of the market for diversified financial products and services. We need to clarify the innovation direction of cultural finance and improve the innovation-oriented supportive environment; actively apply the financial technologies and transform the financial services logic with credit appraisal at the core; strive to lay a solid foundation for innovation and work hard to refine the quality of cultural enterprises.
Keywords: cultural industry, financial innovation, financial policy
