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2010 Overview of China’s Culture Industry

People’s Daily published a report that included an overview of China’s culture industry in 2010. According to the report, the Chinese Academy of Social Sciences’ recent blue book stated that, in 2010, the value-added output of China’s culture industry rose to 1.11 trillion yuan (US$173.98 billion) which accounts for 2.75 percent of the GDP. That figure is expected to reach 5 percent over the next five years. It was suggested that the culture industry will become a key industry that will bring more employment opportunities and economic growth to the local economy. In 2010, there was an infusion of funding from the Ministry of Finance. There are 26 provinces that have set up designated funds to support the culture industry with the investment reaching 2.5 trillion yuan (US$392 million). The statistics the report released show that China’s movie industry grew 10 times from 1 billion yuan in 2000 to 10 billion in 2010. Since 2009, the news publishing industry grew 20 percent reaching 1 trillion yuan. The computer games industry reached 34.9 billion yuan with a 70 percent share of the domestic market.

Source: People’s Daily, October 8, 2011