China released a report on the development of its cultural industry at the ongoing 10th China (Shenzhen) International Cultural Industries Fair on Friday.

According to the report, the country's cultural industry is becoming a pillar in the national economy.

An industry is regarded as a pillar in the national economy if its annual added value surpasses more than 3 percent of the GDP, according to the de facto standard.

In 2012, the cultural industry generated 1.8 trillion yuan ($288 billion) in added values, accounting for 3.48 percent of the GDP.

Compiled by Hubei University, the report studies and assesses Chinese cultural development from six aspects, including cultural achievements and influence.

"Creation is the core of Chinese cultural development. The report helps form an assessment system and will contribute to set the Chinese standard," said Yin Hanning, dean of the Hubei provincial government information office.

The report will be available globally with multilingual versions.

Jia Tingting contributed to the story