Latest News:  

English>>Business

China earmarks 500 mln yuan for cultural firms

(Xinhua)

08:24, January 09, 2013

BEIJING, Jan. 8 (Xinhua) -- China allocated 500 million yuan (79.61 million U.S. dollars) to fund the development of centrally-administered state-owned cultural enterprises last year, the Ministry of Finance said Tuesday.

The funds were used to support 41 projects in areas such as mergers and reorganization among 30 centrally-administered state-owned cultural enterprises, the ministry said in a statement.

In a bid to integrate resources, upgrade the industry and help those enterprises with their business overseas, the ministry issued a total of 1.06 billion yuan for 52 such projects in 2011 and 2012, the ministry's data show.

A recent report from the ministry said state-owned cultural enterprises have become a new driving force in state-dominated industry sectors.

China had 10,365 state-owned cultural enterprises as of the end of 2011, with 2,578 under the administration of the central government. Also at the end of 2011, their combined assets and profits reached 1.6 trillion yuan and 85 billion yuan, respectively, according to the report.

We recommend:

Mainland, Taiwan airlines sign co-op contract

Great changes in Zhengzhou railway station

Wanda Group ventures onto the global stage

Sports car makers look to mainland market

Top Ten Economic Events in 2012

'Gold road' laid with gold bars

Email|Print|Comments(Editor:马茜、厉振羽)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. APF soldiers in anti-terrorism training

  2. Armored regiment in drill on plateau

  3. Selected Xinhua int'l news pictures of the year 2012

  4. 2012 year in review: Say goodbye

  5. New Year Wishes from left-behind children

  6. Family firms look to world future

  7. Take a bite of delicious specials in China

  8. Something about nature

Most Popular

Opinions

  1. Is there hope for Chinese football?
  2. Men to wives: Earn more, but still less than I do
  3. Foreign aid,NOT enough for Chinese soccer
  4. Reliance on land sales 'must be reformed'
  5. Heroism, a matter unrelated to wealth
  6. 'Chinese Fortune Grandpa' VS 'Santa Claus'
  7. China Voice: Blind eyes are deadlier than blazes
  8. Light amidst global gloom
  9. Where should China's badminton head for?
  10. Why ‘Chinese style road crossing’ occurs

What’s happening in China

Busiest line in Beijing: Subway line 10 has reached a daily transportation of 1 million passengers on average

  1. Death sentence for sex pest
  2. One dead, one injured in SW China's metro
  3. 6 dismissed after N China colliery blast
  4. 6 officials suspended after orphanage deaths
  5. Health insurance to cover 95% of rural residents