Entertainment Business in China
The entertainment industry in China has grown to become one of the most exciting and promising opportunities for investment.
Investment in cinema, theme parks, television, literature, art, fashion, internet and gaming offer a variety of possibilities. Chinese policymakers are looking to diversify the economy away from the country’s historical reliance on exports and manufacturing. The entertainment sector (also known as the cultural industry) has been identified by the Chinese government as a “pillar” industry and as such will be a focus of investment.
Due to the large social impact and economic scale the entertainment industry has; the entertainment industry in China is governed by a number authorities, including the State Administration of Press, Publication, Radio, Film and Television (SAPPRFT), the Ministry of Culture (MOC) and the State Administration for Industry & Commerce (SAIC).
While PRC law encourages foreign investors to invest in many parts of the entertainment industry, some areas are still restricted to foreign investors, including radio, television and film, and construction and management of large-scale theme parks. Foreign investors usually join up with Chinese investors to conduct business in restricted industries. For example, Disney and Universal have successfully established joint ventures with Chinese businesses to build and operate their theme parks. Other foreign investors can cooperate with Chinese firms through technology and intellectual property licensing, management and consultancy services.