An executive meeting of the State Council discussed and adopted the Revitalization Plan of Cultural Industry on July 22.  The high-profile plan is the 11th revitalization plan for an industry following plans for steel, auto, textile, equipment manufacturing, ship-making, IT and other industries.  

Under the plan, central government shall significantly increase investment in cultural industry by subsidizing loan interests and program budgets and offering initial capitals; establish the investment fund for Chinese cultural industry to strategically invest as a shareholder in cultural companies in key areas, promote merger and acquisition of these companies, facilitate integration of cultural resources and structural adjustment and uphold cultural security of the country.  According to a source close to the situation, such fund management company has been established with 10 billion yuan in size.  The Ministry of Finance is the major shareholder and invites key state-owned cultural companies, large SOEs and financial institutions to purchase shares.

(China IP News)