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BIZCHINA / Culture & Media |
Radio, TV, film industry's revenue rises sharply in 2006By ()
Updated: 2007-06-20 10:46 The total revenue of China's radio, TV and film industry increased 18 percent to 110 billion yuan (about 14.4 billion US dollars) in 2006, said a report released by the State Administration of Radio, Film and Television yesterday. The revenue of the radio and TV sector rose 17 percent, while that of the film sector grew 19 percent, setting a new record, according to the report. The number of China-made movies reached 330 in 2006, up 27 percent over the previous year. And China produced 82,300 minutes of cartoons, nearly double the 2005 volume, said the report. By the end of 2006, radio covered 95 percent of the Chinese population, and TV 96 percent. The report said the year 2006 saw many innovations in China's radio, TV and film industry. In 2006 China developed its own digital TV standard, which will be implemented from August 1 this year. The digital TV standard will help make digital TV a 500 billion yuan business in China in 2015, according to an estimate from the China digital TV industry association. TV set manufacturers believe that the 2008 Beijing Olympics are a big opportunity for the industry, and will whet people's appetites for digital TV. Zhao Shi, deputy director of the State Administration of Radio, Film and Television, said "China's broadcasting, film and TV industry is experiencing a deep reform extending to unprecedented areas and with far-reaching effects." "The reform also provides strategic opportunities for China's broadcasting, film and TV industry," said Zhu. In 2004, the administration and the Ministry of Commerce jointly issued two regulations on foreign investment in the film and TV industry, allowing foreign investors to hold no more than 49 percent of film and TV production joint ventures. In May 2006, China opened up 921 cultural projects in fields such as film and television with a total value of about 70 billion yuan in the hope of attracting investment from both home and abroad. China has also eased restrictions on access to the mainland market for Hong Kong's film and television industry. (For more biz stories, please visit Industry Updates)
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