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Foreign Funds Approved For Domestic Radio, Film And Television Industry
November 29, 2004 |
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With the formal implementation of yesterday's "Provisional Prescriptions On Television Program Production Of Joint Ventures And Cooperatives", foreign funds are now allowed for the first time to participate in China's domestic radio, film and television production industry.
Even though foreign enterprises are still only allowed to hold a maximum of 49%, this is the largest opening to the outside world for China's nascent film and television industry.
News of the opening is believed by industry analysts to be the building of a foundation for paid digital television programs. Local media report these analysts say the number of paid digital television channels in the future will be five times more than current channels, so the shortage of quality programming will be felt. The entry of foreign capital is expected to help solve the problem.
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