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National Center for Performing Arts reaches revenue expenditure balance in first year of operation |
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13:40, April 13, 2009 |
The National Center for the Performing Arts (NCPA), which officially opened on December 22, 2007, has achieved a balance between annual profit and expenditure in its first year of operation.
NCPA has more than 3-billion yuan invested and is one of the major 21st century-oriented public cultural facilities built by the Chinese government. People in the industry were skeptical of whether the facility would be able to balance expenditure with profits, and some even asserted that there would be a possibility of a loss of between 100 and 200 million yuan in the first year. Fortunately, the results of more than one year of operation are not as pessimistic as generally expected. By the recently-concluded performance season of China's New Year Festival, NCPA had hosted a total of nearly 1,200 performances and received 1.3 million guests. Almost all performances sold over 82 percent of tickets. In spite of the impact of international financial crisis, tickets to shows of world-renowned groups and fine domestic plays are still in short supply, because of strong consumer demand.
As a public cultural facility, NCPA receives financial subsidies from the Central Government and the Beijing Municipal Government totaling over 100 million yuan per year.
By People's Daily Online
http://paper.people.com.cn/rmrb/html/2009-04/13/content_231648.htm
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