The China Insurance Regulatory Commission and the Ministry of Culture jointly released the Circular on Supporting Development of Culture Industry by Insurance Sector (Circular), which specified the policies and measures for supporting the culture industry. Three leading insurance enterprises are selected as the pilot units, which shall release new types of insurance products customized for the cultural enterprises.

The Circular encouraged the insurance enterprises to invest in the bonds issued by cultural enterprises, and support the qualified insurance enterprises to invest in the qualified investment funds of cultural industry. Insurance firms are allowed to provide comprehensive financial services for cultural enterprises, including the credit products, bonds, trust, funds and etc.

The PICC P&C, the CPIC and the China Export & Credit Insurance Corporation are the first batch of enterprises for the trial. The initial batch of insurance products include: property insurance for activities, the public liability insurance for activities, the insurance for cancellation of activities and other eight insurance products.