SARFT to Encourage Private Investment in Film, TV Production
China Securities Journal, 9/02/09
Zhu Hong, spokesman for China's State Administration of Radio, Film and Television (SARFT), has said that the administration aims to lower barriers to entry for TV drama and program production, encouraging private capital to enter the content production sector, to strengthen the industry's production capability. Zhu said that SARFT also plans to foster giant state-owned or state-controlled media companies by encouraging cross-regional and cross-industry alliances or restructuring, while driving qualified companies in the cultural industry to seek funding from capital markets. State giants such as China Film Group and Shanghai Film Group have come out with IPO targets, and are currently undergoing internal restructuring preparations.
According to an industry source, relevant government departments are currently formulating a funding policy for sectors including the movie industry, that will allocate government funds for content creation and production, the specific amount of which is still under discussion.
Keywords: programming Zhu Hong film content IPO SARFT TV Drama Shanghai Film Group China Film Group cultural industry private investment
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