In a bid to expand direct financing of cultural company and carry out continuous and effective financial innovation, the Ministry of Publicity of the Central Committee of the Chinese Communist Party, the Bank of China, the Ministry of Culture and other 6 authorities jointly released a Guiding Opinion on Financial Support for Facilitating Invigoration and Development of Cultural Industry.

Under the opinion, concerted efforts would be made to promote the development and innovation of credits featuring diversification and multi-levels. In parallel, facilitate innovation of insurance products and services. The insurance institutions should develop some new insurance products and services suitable for companies covering IP infringement insurance, performance, exhibition, the printing, copy and distribution of publications.

(China IP News)