Xi'an Qujiang Film & TV Investment Group Co, Ltd, got a financial boost from Junling New Cultural Selected Fund, China Daily learned on Thursday.
The fund, with total capital of 300 million yuan ($49.6 million) was established in 2008 in Beijing by Beijing Junling Holding Croup and several well-known Chinese venture capital investment companies.
It is the first fund of its type for culture products and focuses on various sectors, including new media, copyright and programs.
According to Guan Zhaoyi, general manager of Xi'an Qujiang, the financial support will help his company's development, and will be of particular benefit for two film and TV projects, which will start shooting in 2014 and will hit screens in 2015.
Xi'an Qujiang Film &TV Investment Group Co, Ltd was established in 2006 in Xi'an, capital of Shaanxi province and had produced 29 films, 33 TV dramas and 18 documentaries, a number of which have won domestic and international awards.
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