Liu Guoxiong, director of China Audio and Video Association, said at the China International Audio and Video Summit Forum 2006 that with the constant regulation of markets and promotion of new technology, the digital music market in China will undergo rapid growth in the next five years and the market value will reach CNY12.7 billion by 2010.
Liu estimated China's digital music market value will reach CNY4.1 billion in 2006 and break through CNY8.14 billion in 2008 before finally reaching CNY12.7 billion by 2010.
Due to their strong development momentum, China's digital music companies have attracted a lot of international capital. From October 2005 to March 2006, the China Audio and Video Association says the sector obtained up to CNY700 investment from foreign investors.
