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Platform eyes a bigger role in global market
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08:49, December 25, 2008

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The Shanghai International Cultural Service Trade Platform is expected to become the flagship of the city's booming cultural service trade industry in the next few years, according to a development plan for the platform released by the Oriental Huiwen International Cultural Service Trade Co Ltd.

Jointly invested by Shanghai Jinwin Investment Co Ltd and Waigaoqiao Group, Oriental Huiwen is the operating company for the platform.

Sources from Oriental Huiwen said the platform plans to become China's premier platform for international cultural exchange, exhibitions, transactions and cultural service trade as well as a venue for both international and domestic companies in Shanghai operating in the sector.

According to the platform's long-term development plan, the construction of the platform's infrastructure will be all completed before 2010. The platform will then be home to about 50 major domestic and 30 international cultural service companies. It will also serve as the major cultural exchange and exhibition platform for the Shanghai 2010 World Expo.

By 2015, as the total export volume of companies in the platform is projected to reach 20 billion yuan annually, the center is expected to have an established reputation on both domestic and international markets.

From 2016-20, the platform is targeted to become a heavyweight player in global cultural service trade as its operational mode becomes more mature and internationalized.

At present, a dozen cultural service companies have already settled in the center, three companies have signed up to enter and several companies are negotiating with Oriental Huiwen for renting rooms there.

Under the approval of the administrative committee of the Waigaoqiao Free Trade Zone and the zone's taxation bureau, a cultural service trade market has already been operational in the center and a number of businesses have applied for membership in the market.

And the platform is now seeking close cooperation with domestic and foreign partners to expand its business scope.

For example, Oriental Huiwen is contacting with numerous movie and TV production companies, along with performing art companies, that are likely to have operations in the platform.

In addition, the platform also has plans to build an arts auction center, a property rights transaction base and a cultural creation center.

Source: China Daily

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