The Digital Source For China's Tech Innovation Since 2000

Search
Close

Solely-Foreign Funded Companies Still Not Allowed In Animation Industry

August 30, 2004
Law & Policy

During the International Cartoon Image Forum held on August 25, Mr. Hu Zhanfan, deputy director of the State Administration of Radio, Film and Television, said that foreign capital will be taken for the animated picture industry under the premises that the majority of shares of an animation enterprise are still controlled by the domestic fund in order to promote the further development of the domestic animation industry.

This is first time that foreign capital was verbally allowed entry to the industry, and although no relevant offical document has been issued at this time, it does suggest that the Chinese government is determined to develop the industry quickly, and that the production and broadcasting of cartoons is to be separated. So far, according to Mr. Hu, five groups in Shanghai have collected CNY150 million for the establishment of an animation company. Meanwhile, CCTV and BTV are busy preparing for their own cartoon-making company.

In addition to the animation industry, paid TV programs will also be opened up to foreign capital, with joint ventures likely to be allowed between Chinese and foreign investors provided that Chinese investors hold the majority share.

Tags: animation | broadcasting | BTV | capital | CCTV | Chinese | development | enterprise | entertainment | film | forum | fund | government | international | IT | picture | production | radio | Shanghai | share | shares | television | TV

Other Related News:

China Netcom Launches Instant Communications Service

April 17, 2007

China Imports of Digital Automatic Data Proc. Equip.

December 25, 2021

Elon Musk & China Ambassador To The USA Have An Inspiring Talk & Tesla Ride dispatchist.com

March 5, 2022

China Tech Digest: Tencent Releases China’s First Explainable AI Report; Sequoia China Infrastructure Fund Closes Fundraising

January 22, 2022

Flirts with Upside and Downside? Waste Connections Inc. (WCN), China Finance Online Co. Limited (JRJC)

September 19, 2021

China Digital Acquires Electronics Battery Manufacturer

November 22, 2004

Asia’s gaming stocks plunge after China tightens rules for young video gamers

September 1, 2021

Americans Can Now Use China's Didi Ride Hailing App

April 13, 2016

China Deal Review: Startups raise over $3.8b as PE-VC funding activity climbs in May

June 9, 2022
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
Menu
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
© 2022 ChinaTechNews.com. A Service of Asia Media Network.
Twitter
Posting....