China to encourage qualified digital cultural companies go public
Published: May 23, 2022 12:12 AM
digital cultural industry Photo: VCG
Photo: VCG

China will encourage qualified digital cultural companies to go public in a bit to promote the digitalization in the culture sector.

The nation is to support scientific and innovative digital cultural firms to list on the STAR Market of Shanghai Stock Exchange to widen their financial channels, according to guidelines issued by the General Office of the Communist Party of China (CPC) Central Committee and the State Council.

To facilitate and accelerate the digitalization of cultural industries, the guidelines have also announced the construction of a number of nation-level innovation centers and science and innovation labs for cultural digitalization.

Efforts will also be made to secure the safety of cultural data during the processing, distribution and storage. The guidelines instruct relevant parties to develop security standards, build a security supervision system and improve property rights protection for cultural data.

The guidelines have also called for efforts to study and formulate industrial policies to support cultural digitalization and provide more financial support on the sector.

The guidelines come after senior Chinese officials reaffirmed their support for the digital economy.

China will support the sound and sustainable development of the digital economy and support digital enterprises to list in domestic and overseas capital markets, senior Chinese officials said at meeting convened by the country's top political advisory body on Tuesday.