Beijing's cultural industry achieves double-digit growth in Q1

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The cultural and its related industries above the designated size in Beijing generated a total income of 454.17 billion yuan ($63.9 billion) in the first quarter, an increase of 11.3% year on year, 1.9 percentage points higher than the figure in the first two months, according to data released by the municipal statistical bureau recently.

In Q1, the cultural enterprises above the designated size recorded an operating income of 445.34 billion yuan, an increase of 13.1% year on year. The revenue generated by emerging cultural businesses accounted for over one-fourth of the national total.

The data highlighted the continuous recovery of the contact-based service industry and the consumer sector in the city, driven by an increase in tourism and engagement in cultural and recreational activities. 

In Q1, the combined income of the nine major cultural industries, including radio and film distribution and screening, art performances, entertainment services, tourism, and conference and exhibition services, reached 50.05 billion yuan, reflecting a 7.4% year-on-year growth. This represented a 4.6 percentage point increase compared to the period from January to February.

Notably, the sales revenue of art and craft products witnessed a year-on-year growth of 14.1%, driven by sales during the Spring Festival and an upsurge in gold jewelry sales. The revenue from conference and exhibition services saw a 0.8% year-on-year increase, marking a 14.8 percentage point rise compared to the period from January to February. Moreover, radio and film distribution as well as tourism services experienced year-on-year growth of 17.8% and 28.7%, respectively, with increases of 18.4 and 26.2 percentage points compared to the period from January to February.

Additionally, news and information services, content creation and production, and cultural communication channels in Beijing recorded revenues of 125.49 billion yuan, 126.45 billion yuan, and 79.49 billion yuan, respectively, with year-on-year growth rates of 10.7%, 25.9%, and 22.8%. These sectors collectively contributed to a 13 percentage point increase in the city's overall cultural industry income, and accounted for 72.9% of the total income from cultural sectors. 

According to the new data, cultural businesses in emerging formats in Beijing generated an income of 302.7 billion yuan in Q1, representing 68% of all incomes of cultural enterprises across the city. This marked an increase of 2.7 percentage points compared to the previous year and stood 30 percentage points higher than the national average.

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