Economy

Cultural-products trading center opens in South China

(Xinhua)
Updated: 2010-11-09 13:49

GUANGZHOU - A center for trading the intangible properties of cultural works opened Monday in Guangzhou, capital of south China's Guangdong province.

Cultural products, such as the copyrights to films, music, literature and trademarks can be traded at the center, the Southern Cultural Property Exchange.

The trading center will also provide copyright certification and policy consultation services.

The trading center secured a 63-billion-yuan ($9.4 billion) line of credit from four local banks at the opening ceremony.

Demand for Filipino maids on the rise Related readings:  Modernity can be two-way street for cultural heritage  Cultural innovation industry booming in the city of Banyan  Wen highlights cultural diversity on Turkey visit  China, Turkey sign pacts on economic, cultural co-op

Southern Media Group, one of China's leading media organizations, and five institutes and companies established the trading center.

Local officials said the establishment of the trading center would  help local companies producing cultural works secure financing.

China has been promoting the development of its cultural industries.

The State Council, China's cabinet, endorsed in September 2009 industry guidelines that vowed to foster a modern cultural-products market.

Similar cultural-product trading centers have already been established in Shanghai, Shenzhen and Chengdu.