The Study Of Culture Assets And Equity Exchange In China

The Chinese culture industry is going through a rapid growth in recent years.While other traditional industries are experiencing hard time,the culture industry appears to be the breakthrough in the current economy situation,leading and pushing other industries to reform and restructuring.A significant feature of the culture industry in recent years is the interaction with capitals,which comes from the need of development of both culture industry and the capital market.Stimulated by the Internet finance,the financial exchange markets generate various forms of products,such as credit loans,trust funds,insurances,bonds,bills,funds,stocks,P2 P,beneficial interests and so on.Certainly these financial exchange markets will require regulations and supervisions.Chinese culture assets and equity exchange markets first appeared in 2009,and have gone through three periods later,which are start-up,development and rectification.Supported by the government,there were over 30 culture assets and equity exchange institutions over the China from 2010 to 2011.However,due to lack of regulation,the artwork share trading transactions exposed serious problems,which were shut down by the government.This study will look at the cases of Tianjin and Shenzhen culture assets and equity exchange as failed examples to analyze the problems.Meanwhile this paper studies the cases of Shanghai and Nanjing as practicable models for further development.Last but not least,the development of culture assets and equity exchange calls for an urgent need to revise the Securities Law of China,which is falling behind the culture industry and cannot meet the demand of the market.Also,art market needs to establish a sophisticated system that facilitates the growth of the industry.In this case,this paper use Hangzhou as an example as it is well known for its developed cultural and creative industry among Chinese cities.Hangzhou Culture and Creative Industry Office works together with Xilingyinshe Art & Culture Co.and other art institutions to facilitate the art industry by building up the culture assets and equity exchange platform,which can be seen a promising future.