Financing Of The State-owned Cultural Enterprise And Case Studies

In modern society, cultural industry has been a driving force for and an important component of social development, and increasingly integrated with economy. Chinese culture is extensive and profound. Though with only a short time of development, the cultural industry is experiencing fairly rapid development, and huge business opportunities and wealth in connection with it are emerging. And national policy also specifies that cultural industry shall be pushed forward to be the pillar industry of national economy in the new stage of economic development. Due to its economy and sustainability, cultural industry development is in sore need of perfect and effective financing channel, system and policy guarantee and support.Depending on our national conditions and policy orientation, state-owned cultural enterprises are dominating and will dominate the market at present and in a long time as an important force to drive the cultural industry development. The financing issues of state-owned cultural enterprises are directly related to the potential of growth and sustainable development. Currently, imperfect capital market, financial market and limited financing environment are barriers to effective financing of state-owned cultural enterprises; therefore, it is necessary to analyze the current development status of our state-owned cultural enterprises, identify the reason for financing difficulties, learn advanced experience, and raise new ideas to put forward better solutions and optimize concepts against existing problems. As a result, study on the financing of state-owned cultural enterprises is of great significance.Proceeding from cultural industry, corporate financing and other theories, this paper expounds the status quo and prospect of our cultural industry development as well as its position&role in economic society, making explicit the importance and urgency of financing to the development of state-owned cultural enterprises; it analyzes the present financing situation, main financing way, financing environment and encountered financing obstacles of state-owned cultural enterprises, as well as the correlation and mutual influence between the cultural industry development and cultural corporate financing.Then, this paper has, based on some common features of state-owned cultural enterprises in shareholder background, financial structure, financing needs, risk safeguard measures and other aspects and in combination with actual work, selected Chengdu B-ray Media Co., Ltd., a regional leading state-owned cultural enterprise, as the case, analyzed its shareholder background, operation and financial situations, capital operation characteristics and demand conditions, discussed the corporate financing reasons and existing financing modes, and systemized the financing commonness of state-owned cultural enterprises to analyze and evaluate the advantages and limitations to corporate financing strategy.Afterwards, on the basis of analysis on existing financing condition of Chengdu B-ray Media Co., Ltd., and in combination with its future financing needs, it puts forward feasible solutions such as financial market financing, trust financing, annexation loan, finance leasing and capital market refinancing, as well as exploratory forward financing modes including broadening securitization range of cultural product, government and enterprise financing "double insurance" mode, social fund financing and consigned loan.Finally, based on specific financing solutions to this case, this paper integrates a variety of financing issues of state-owned cultural enterprises at all levels, allowing for long-term aspects, raises the innovative ideas of building specialized cultural financing system, expanding the financing channels of cultural enterprises, financing products of innovative cultural industry by financial institutions and establishing the financing service system, for future discussion and practice.