Ministry of Culture and Tourism: support cultural parks to utilize REITs and PPP models in the infrastructure sector

Viewpoint Newswire: On December 28, the Ministry of Culture and Tourism issued the Opinions of the Ministry of Culture and Tourism on Promoting the High-Quality Development of State-Level Cultural Industry Parks, saying that by 2025, the number of state-level cultural industry demonstration parks will reach about 50, and the advantages of scale and agglomeration will be more visible.

Viewpoint New Media has learned that the Opinions propose to cultivate a number of national cultural industry demonstration parks with development potential to create units and form a high-quality creation echelon; the radiation-driven ability of Beijing Chaoyang National Cultural Industry Innovation Experimental Zone and Sino-Singapore Tianjin Eco-city National Animation Industry Comprehensive Demonstration Park for the innovation and development of the regional cultural industry will be further enhanced; and combined with the construction of the regional cultural industry belt in Combined with the construction of regional cultural industry belt, a number of national cultural industry parks with outstanding main business, remarkable quality and benefit, and strong sustainable development ability are planned to be constructed in the regions with good foundation for cultural industry development and perfect supporting facilities; adhering to the development of differentiation and specialization, the cultural industry parks in large cities and urban agglomerations are supported to accelerate the development of new cultural industries based on the advantages of intensive technology, talents and capital; guiding the cultural industry parks in small and medium cities and rural areas to tap advantageous cultural resources and upgrade the cultural industries in the parks. The cultural industry parks in small and medium-sized cities and rural areas will be guided to tap the advantageous cultural resources, transform and upgrade the traditional cultural industries, and create characteristic cultural industry clusters.

In addition, the Opinions explicitly support the construction and introduction of a number of business incubators, crowdsource spaces, public **** technical services and results transformation and utilization platforms in national cultural industrial parks and founding parks, and build a multi-level innovation and entrepreneurship service system to meet the development needs of the cultural enterprises residing in the parks; and guide the transformation of investment attraction methods of the national cultural industrial parks and founding parks from quantity-oriented to quality-oriented. Guide the investment attraction of national cultural industrial parks and founding parks to change from quantity to quality, select business and nurture enterprises around industrial chain and innovation chain, aggregate upstream and downstream enterprises and related industries, and form advantageous industrial clusters; accelerate the construction and application of information infrastructure, such as 5G, industrial Internet, Internet of Things, etc., and enhance the comprehensive bearing capacity of the information network, so as to satisfy the needs of the enterprises residing in the parks for the network performance, capacity, application scenarios and the quality of information services; and encourage the integration of advantageous resources of national cultural industrial parks and founding parks. Accelerate the cultivation and introduction of a number of leading cultural enterprises with core competitiveness and industry-driven role; implement the strategy of digitization of cultural industry and enhance the supply capacity of high-quality cultural products.

It is also noted that the Opinions propose relying on the cooperation mechanism between the Ministry of Culture and Tourism and financial institutions to increase support for key enterprises and projects in national cultural industrial parks and founding parks, accurately docking financial products and services, establishing a "green channel" for financing of cultural enterprises in the parks, and prioritizing credit resources; supporting the parks to use real estate investment credit in the field of infrastructure to support the development of the cultural industry. The parks will utilize real estate investment trusts (REITs) in the infrastructure field, government and social capital cooperation (PPP) mode, etc., to renovate and improve infrastructure and service facilities.