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Print Edition> Nation
UPDATED: December 13, 2010 NO. 50 DECEMBER 16, 2010
An Emerging Pillar Industry
China's cultural industry is geared to grow from a new engine into a pillar of the national economy

TRYING ON CLOTHES: A computerized clothes trial system exhibited on November 19 at the ICCIE is able to help shoppers see how clothes look on him or her from different angles (LUO WEI)

The Fifth Beijing International Cultural and Creative Industry Exposition (ICCIE), held November 17-21 in Beijing, was a feast for the eyes and mind. It showcased the enormous glamour and commercial opportunities promised by the cultural and creative industry.

Started in 2006, the ICCIE is an annual cultural exhibition jointly hosted by the Ministry of Culture, the State Administration of Radio, Film and Television, the General Administration of Press and Publication and the Beijing Municipal People's Government.

Every year's ICCIE reflects the cultural industry's growth and characteristics of the past 365 days. It also acts as a weathervane, forecasting the industry's future growth.

The ICCIE displays the latest achievements in China's cultural industry, promotes the commercialization of cultural and creative projects, boosts trade and expands international exchanges. ICCIE features exhibitions, trade promotion, forums and other related activities.

This year's events focused on the industry's internationalization, digitalization and integration with other industries.

Current status

The Fifth Plenary Session of the 17th Central Committee of the Communist Party of China (CPC), which concluded recently, resulted in a suggestion that the cultural industry should be developed into a pillar industry in the next five years.

During this year's ICCIE, a large amount of projects were put into the market and a large number of products were traded. The value of cooperative agreements signed this year totaled 47.8 billion yuan ($7.1 billion), up 30.3 percent from the previous year.

In addition to the total value of agreements signed, the fifth ICCIE was also noted for hi-tech and content-rich exhibits, broad international participation, and for marrying the capital market with cultural and creative industry.

Hi-tech cultural products are a highlight of this ICCIE. New generation digital TVs, mobile multimedia, Internet and mobile TVs and other new media were showcased.

This ICCIE also highlighted the boom in the content industry. Creative design, film and television production, animation and online games research and development accounted for more than 50 percent of all contracts signed at this ICCIE.

This indicated China is gradually shifting from low-tech, low-value-added "made-in-China" products to hi-tech and high-value-added "designed-in-China" products.

A NEW IMAGE: The virtual image of a singing star attracts visitors to the Fifth Beijing International Cultural and Creative Industry Exposition on November 20 (LUO WEI)

The ICCIE effectively increased the cultural industry's access to financial capital. Capital deficiency and financing difficulty usually are major bottlenecks hindering the development of China's cultural industry.

This ICCIE melded cultural industry with the capital market. Banks and cultural enterprises signed more than 4 billion yuan ($615 million) of cooperative agreements, more than triple the previous year.

This year's ICCIE was also the most widely participated in since its inception. Exhibitors took the opportunity to expand cultural trade and explore opportunities for in-depth cooperation.

More than 30 high-level leaders of international organizations, industry experts, scholars and entrepreneurs delivered speeches at ICCIE's 11 summit forums.

Chu Xiangyin, Deputy Director of the Organizing Committee of ICCIE, said this ICCIE exhibited the bright prospects of China's cultural and creative industry.

Moving forward

China's cultural industry has entered a golden era, enjoying a favorable domestic and international environment.

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