Funds to Give New Life to Arts

China is looking to speed up the development of the arts and entertainment sector, said Vice-Minister of Culture Li Yuanchao.

More investments in the form of private capital or equity funding will supplement government funding for movies, magazines, art trading and education, said Li.

The opening of the cultural market is aimed at satisfying Chinese people's growing demand for arts and entertainment products by introducing a competitive mechanism into the industry, he said.

Reforms will be also carried out in the cultural administration departments, which used to organize cultural activities.

Over next five years, such departments will switch their focus to drafting plans and guidelines to guide the development of the cultural sector, providing consultation and information for those working in the sector as well as co-ordinating government efforts to foster a better environment for the development of culture, he said.

Ministry statistics show that urban residents spent only 2.35 per cent of their total incomes on cultural activities in 1997.

Li said the small size and fragmentation of the arts and entertainment industry has prevented cultural resources from being maximized and retarded the sector's development.

So far, no entertainment companies have made China's top-ranking 500 enterprises.

He pointed out that Chinese consumers could spend a lot more on entertainment and culture. According to ministry statistics, aggregate consumption reached 65 billion yuan (US$7.8 billion) in 1997, while potential demand was estimated to be 300 billion yuan (US$36.1 billion).

As part of the move to revitalize the cultural sector, the country will try to ensure every citizen's right to use public cultural services, the vice-minister said.

From 2001-05, the government will spend more to build libraries and cultural centres in underdeveloped regions.

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