Poly Culture sets sights on overseas markets (2)

Last year, Poly's turnover from its culture business was more than 1 billion yuan, said Jiang.

Although this is far from significant when compared with the group's overall revenue of 100 billion yuan last year, the culture industry is of key importance for the group to develop in a sustainable way and greatly helps to build its corporate image, said Chen Hongsheng, chairman of the group.

Almost at the same time Poly Culture was set up, Poly became a household name by acquiring the four famous Yuanmingyuan Park animal heads from foreign auction houses.

The purchase of the lost cultural relics helped the group enhance its brand image as a responsible and patriotic company and enhanced its reputation among customers, said Chen.

"When the group promotes its real estate business across the nation, many people tell Poly employees that they are not worried that Poly construction projects will end up unfinished, since it is such a responsible company," Chen said.

"We acquired the animal heads due to our corporate responsibility."

To gain a bigger slice of the expanding culture industry, Jiang said that Poly Culture is considering tapping the overseas market further and is awaiting approval for an IPO this or next year.

In terms of exploring the international market, Poly Culture is considering conducting more exchanges, conducting some mergers and acquisitions overseas, and expanding its auction business into the international arena.

Taking performance as its core business, Poly Culture not only operates and organizes national and even international tours of outstanding domestic projects, but also actively imports excellent international cultural projects to China such as the London Philharmonic Orchestra, London Symphony Orchestra concert, and musicals including Mamma Mia, Cats, and Notre-Dame de Paris.

Poly Culture is also engaged in auctions and sales of artwork, with an emphasis on auctions of Chinese antiques, ancient and contemporary Chinese paintings, calligraphy and artworks, and antique identification, restoration and exhibitions.

Last year, Poly Auction (Hong Kong) Limited was set up and became one of the most active auctioneers in Hong Kong and throughout the Asia-Pacific region.

"Our Hong Kong auction company offers a good platform for us to tap the overseas auction market. Based on this, we will keep on our selecting strategies and keep improving and developing our business, establishing and consolidating our role as an internationally oriented company," said Jiang.

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