A pre-listing nurturing center for Beijing's cultural enterprises opened on May 21 to improve cultural enterprises’ business environment in the city and help them to go public. The center, first of its kind in China, is jointly founded by the Shanghai Stock Exchange and the Beijing Municipal Supervision and Administration Office for State-owned Cultural Assets.

According to the agreement signed by the two founding parties, the center would help cultural enterprises in restructuring, presenting at road shows, marketing, financing, pre-listing tutoring, and other such business interactions.

The establishment of the center is a key to improving the business environment for cultural companies and marks the shift to focusing on quality rather than speed in Beijing's cultural industry. 

According to the Beijing Municipal Supervision and Administration Office for State-owned Cultural Assets, 76 out of China’s 315 listed cultural enterprises were based in Beijing as of April. Vice Chairman of the Shanghai Stock Exchange Zhang Dongke said there has been good momentum of development and prospective potential in Beijing’s cultural industry.

Zhao Lei, director of the Beijing Municipal Supervision and Administration Office for State-owned Cultural Assets, said that apart from the nurturing center, Beijing also plans to set up banks, funds, demonstration areas, financing platforms, and various rewards for cultural enterprises.

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