By Chen Feng & Sun Xuan, Research Team on “The Status Quo and Prospect of China’s Cultural Industrial Development”, Institute of Public Administration and Human Resources, DRC

Research Report, No.146, 2020 (Total 5890) 2020-6-17

Abstract: With the further implementation of the innovation strategy, industrial boundaries have been constantly broken and new cultural formats have emerged, which have generated new driving forces for the development of the cultural industry focusing on new technologies, new industries and new business models and based on new production factors including capital, knowledge, technology, human resources, information and data. The favorable policy expectations in the new era, the increasingly improved market environment and the new technological revolution will further promote the innovation and transformation of the cultural industry. At the same time, the development of cultural industry is also faced with some problems such as the lack of financing tools with different risk levels, unreasonable gradient structure of the financing industry; the shortage of talents in the cultural industry and the imperfect incentive mechanism; weak overall strength of cultural enterprises, and insufficient ability for innovation-driven development. Policy options are raised as follows. We need to systematically enhance financial support and build a closed loop of full-cycle cultural financial investment and financing circle; optimize the development environment for talents and strengthen the structure-oriented effect of incentive mechanism; guide enterprises to enhance its competitiveness and increase innovation in products and services of the cultural industry.

Keywords: cultural industry, prospect, problems, policy options