Beijing reports US$6 bln in cultural trade last year

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Trade in cultural goods and services reached US$6.02 billion in Beijing in 2018, a year-on-year increase of 17.5%, according to an official of the Chinese capital's cultural assets authority. 

During a forum at the ongoing China International Fair for Trade in Services, the official of the city's State-Owned Cultural Assets Supervision and Administration Office said that Beijing's cultural trade has made significant achievements in the past few years: Its volume rose from US$1.26 billion to US$5.12 billion between 2006 and 2017.

In 2018, the figure reached a record-high number of US$6.02 billion. A breakdown of the trade mix shows that the core cultural services, namely advertising, audio and video, contributed US$3.78 billion to two-way trade, a growth of 24.2% growth compared to 2017. Meanwhile, core cultural products registered a total volume of US$2.24 billion, or 7.7% year-on-year growth. Statistics from the Ministry of Commerce reveal that Beijing climbed to third in the country-after Guangdong and Shanghai-in terms of total export of cultural services.

Beijing has also nurtured a batch of competitive export-oriented enterprises. A total of 69 enterprises and 36 projects from Beijing were recognized as the country's key players in the cultural export sector, higher than any other province or municipality directly under the central government. 

For instance, Beijing-based StarTimes has built branches in over 30 countries in Africa, providing digital TV services to more than 20 million users. Beijing-headquartered game developer Perfect World has seen its products reach over 100 countries and regions, along with 20 operation outposts in Europe, North America, Japan, South Korea and Southeast Asia. 

Data shows that Beijing's cultural products and services have reached over 140 countries and regions, with more than half in Oceania, the ASEAN, Latin America, the Middle East, and APEC members. 

During the cultural trade forum held in Beijing, a total of 11 projects worth 1.65 billion yuan were signed between Chinese and foreign companies.

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