FTZ lures over 150 cultural firms

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More than 150 cultural enterprises have been set up in Shanghai's pilot free trade zone to take advantage of liberal policies, the National Base for International Cultural Trade said Tuesday.

"Liberalization policies in terms of culture, finance, trade and investment in the zone provide unprecedented opportunities for cultural enterprises to make innovative development and to expand internationally," said Ren Yibiao, general manager of Shanghai Oriental Huiwen International Cultural Service Trading Co, which operates the base.

The base, a national public service platform for the cultural industry based in the zone, has served over 300 visitors, who sought advice and information on issues such as setting up game centers and artist agencies there, since the zone opened.

China has widened access for foreign investors to participate in the cultural industry in the zone such as allowing foreign companies to set up performing artist agencies and entertainment facilities and letting foreign manufacturers in the zone to sell game consoles domestically after a 13-year ban.

With a bonded warehouse for artworks, the zone also helps boost cross-border art trading by easing procedures and reducing time and costs for artworks to get in and out of the country.

Christie's, the world's leading art dealer, stored all 149 art items for its first independent auction on the Chinese mainland last month in the zone's bonded storage facility.

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