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UPDATED: 15:20, November 29, 2004
Entry barrier of broadcasting, film and television lowered for foreign capitals
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The State Administration of Radio Film and Television and Ministry of Commerce jointly have recently released Temporary Regulations on Qualifications of Film Enterprise and Management Regulations on Sino-foreign Producers of Broadcasting and TV Program. By issuing the two regulations, China will lower entry barriers for foreign capitals, expand cooperation approaches, absorb foreign capital, technologies and experiences, push forward development of broadcasting and film TV industry, says Zhu Hong, spokesman of the State Administration of Radio Film and Television.

For the first time the two regulations make it clear that social capital can be used in establishment of film production company and film technology company. The foreign capitals can be employed in setting up film company through sino-foreign joint ventures.

The release of the two regulations is meant to cater for the need for developing the industry of broadcasting, film and television. As per request of the 16th congress of the CPC, the administration is deepening reform of cultural system and pushing forward development of industry of broadcasting, film and television, which demands application of foreign capitals and absorbing advanced technologies as well as successful experience.

"China has joined the WTO for three years. Many areas will become more open. The industry of broadcasting, film and television now adopts a strategy of speeding up opening process." By making the industry more open to capitals outside the system; bring all positive factors into full play; absorbing various resources and capitals, China will be dedicated to make the industry stronger so as to better meet demands of people

By People's Daily Online

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