Cul­ture in­dus­try ex­pands 16.5% in 2012 out­put

China Daily (Hong Kong) - - BUSINESS / DIGEST -

The out­put of China’s cul­ture in­dus­try in­creased 16.5 per­cent year-on-year to 1.81 tril­lion yuan ($296 bil­lion) in 2012, ac­count­ing for just un­der 3.5 per­cent of GDP, ac­cord­ing to data re­leased on Mon­day by the National Bureau of Statis­tics. China aims to de­velop the sec­tor into a new growth source, and it’s set a goal of hav­ing cul­tural value-added out­put ac­count for 5 per­cent of GDP in 2016, ac­cord­ing to the Min­istry of Cul­ture. The em­pha­sis is on de­vel­op­ing the mar­kets for books, news­pa­pers, mag­a­zines, dig­i­tal au­dio and video pub­li­ca­tions, per­form­ing arts, tele­vi­sion se­ries, movies and car­toons, with sup­port from bank loans as well as fis­cal sub­si­dies, tax breaks and land use ben­e­fits.

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