The Reflection On Financing Of Cultural Industry

Confronted with a historic opportunity of development, the cultural industry in China cannot achieve a leapfrog development without the financial support. This paper argues that the financing problem in China’s cultural industry is complicated."Culture" part and "finance" part is not familiar with each other. The feature "asset-light" and "high risk" of cultural industry is obstacles as well as the lack of innovation in financial sector. To break through the financing dilemma, cultural industry not only need to expand the financing channels, but to financial innovation. What’s more, the financing environment with wholesome facilities is also needed to improve. Cultural industry enterprises, financial institutions and the government is exploring the means of financing. Combined with the cases, this paper try to overview how the cultural industry to use the government budget, bank credit, social capital and the current cultural industry financing environment, and also attempts to point out the existing problems and offer solutions. I will be appreciated if this study can help to solve the financing plight in cultural industry.The research route of this paper is, first of all, the cultural industry financing question need solved. This paper analysed the difficulties from two aspects-the cultural industry itself and financial institutions. Then reviewed the foreign financing theory and measures to enlighten and solve the problem of financing in China. Later, this paper discussed how to expand the investment channels of the goverment, banks and social capitals. Finally, this article argued to solve the financing difficulties also needs to foster a good investment environment, and further put forward reasonable suggestions.Is the main point of the text:(1) the cultural industry has the characteristics of "asset-light" and "high risk";(2) financial support for the cultural industry should pay attention to the efficiency in using fiscal fund, and fiscal fund should play a role as a leverage to attract more social capital;(3) the cooperation of culture enterprise and bank rely on credit rating system, the credit guarantee system, the innovation of loan mode;(4) the social capital will be attracted after clearing the system obstacle, the modern enterprise system reform of cultural enterprises and a multi-level capital market. The social capital can participate the culture industy through the listed financing, venture capital/private equity and other forms, move massive amounts of social capital into cultural industries.(5) fostering a good financing environment need to more favorable regulation, preferential tax policy and financing platform to bridge both sides.