Research On The Cultural Industry Financing Mode In China

Not only Cultural industry is a smokeless and sunrise industry but also it is an intelligent and highly knowledgeable industry, which has a strong penetration to enhance the value-added of traditional industries and creates tremendous economic and social benefits. Cultural industry is booming in the developed countries all over the world. Recently, China is also paying more attention to the cultural and creative industries. The Seventeenth Chinese Communist Party’s Central Committee, the Sixth Plenary Session has brought up an idea, which is to accelerate the development of culture industry, to promote the cultural industry becoming the pillar industry for the national economy. There will be great influence on Chinese culture industry. It also shows that the government has attached importance to national culture industry. At the same time it will attract more enterprises and persons to pay attention to culture industry and improve the environment of culture industry. More broad space will be brought to the development of culture industry. However, our country industry market is not mature, demand is not stable, and the industry chain is not perfect yet. Because our country policy have imperfect system, the development of capital market is not sound and so on, causes our country and other cultural creative powers in the capital gain and the operation of the ability and efficiency have the very big disparity. Therefore, establishing financing mode which can promote the development of our cultural industry is a priority.First of all, in this paper, based on the theory summarize of connotation and definitions of culture industry, the definition of cultural industry financing and financing model are further clarified. Then the paper introduces the industrial life cycle theory and modern financial theory. They provide theoretical guidance for studying of cultural industry financing model.Secondly, this paper reviews domestic and foreign typical cultural industry on the foundation of mode of financing in depth. Then analyzed the current situation of our cultural industry financing, and pointed out that China’s cultural industry finances and its external problems. Externalizing problems include inadequate government support, cultural industry investment structure unreasonable, the bank credit channel not unblocked, capital market system not perfect and credit evaluation mechanism not perfect. Internal problems include much too dependent on government support and financing channel is single.Thirdly, based on the theory of industry life cycle, China’s cultural industry in the start-up period, growing period and mature period choosing the model of financing are analyzed. Using the fuzzy evaluation method to quantitative analyze the financing efficiency of the different growth stage. And on this basis, reaching our country cultural industry should base on the internal financing mode during newly establishing period, the debt financing during growing period, and the equity financing during mature period.Finally, aim at the problems of our culture industry financing and the choice of culture industry financing mode, this paper proposes the recommendations of perfecting our culture industry financing mode. On the one hand, culture industry should enhance its own core competitive force and actively broaden the financing channels. On the other hand, establish the matching policy measures, perfect relevant legislations and enrich services sub-platform. All of advices are useful of optimizing culture industry financing structure, expanding financing channels and promoting culture industry developing. Therefore, this article will be somewhat enlightenment for the cultural industry financing research, and has a very strong practical significance.The innovation of this paper lies in the combination of the industry life cycle theory and pecking order theory of cultural industry. Three different development periods can be chosen as the financing mode to undertake an analysis, which will be more targeted and feasibility.