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China allows foreign-owned performance businesses

CCTV.com

06-03-2016 16:29 BJT

Culture vultures rejoice! China's new pilot program will let foreign-owned performance companies set up shop. That's likely to bring more shows and concerts to the capital city.
 
China has given the green light to foreign investors to establish their own show businesses in the capital city of Beijing.

Beijing wants to attract more international shows to China in an effort to boost domestic spending. That's despite strict administrative approvals and reviews. 

So far, international investors can register fully-foreign-owned companies only in Beijing.

The state-run Beijing Artists Management Corporation is in charge of large state-level performances and it's capitalizing on the opportunities to go overseas.

"It will be more convenient for domestic show biz companies to cooperate with our international peers," said Zhang Haijun, chairman of Beijing Artists Management Corp.

The China Performance Industry Association says the size of China's showbiz market stood at 6.8 billion US dollars at the end of 2015. That was up 3 percent from 2014.

Analysts say Chinese audiences are picky about the quality of performances and that's why investors are calling for more channels to bring internationally successful performances to China. Their top choices are music concerts, theater and shows for kids.

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