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Guangzhou takes top spot in new cultural industries

| 2017-08-21 | Hits:
(Chinese Social Sciences Today)

The cultural industry maintained growth momentum in Guangzhou and played a bigger role in driving the city’s economic and social development in 2016, according to a report published by the Guangzhou Academy of Social Sciences and the Social Sciences Academic Press on Aug. 2. “Culture plus Technology” has become a highlight in the city. It ranked first across the nation in emerging cultural industries, such as online gaming, animation and new media. Among the top 100 internet enterprises, eight were from Guangzhou. It also stood out in output of performance equipment. The output value of its lighting and sound equipment industry accounted for about half the national total. However, the report pointed out there is not sufficient investment funding from the government and that there is a lack of interest in cultural enterprises by private and risk investment. Intermediary agencies in the capital market have yet to improve services for small and medium-sized cultural enterprises.