To promote the innovation and upgrading of the cultural industry, the first cultural industry parent fund initiated by the state-owned media group set sail.

the total size of the parent fund is 10 billion yuan, and the initial management scale is 3 billion yuan. A cooperation signing ceremony was held at the site of the launching meeting. the signatories include: Jingwen Investment, the investment platform of the propaganda Department of the Shanghai Municipal CPC Committee, Shanghai newspaper Group, Shanghai Minhang District Cultural Industry Investment Fund, Shanghai International Group, Shanghai Pudong Development Bank and so on.

Zhongyuan parent Fund will seize the strategic opportunity period of the state to support the great development and prosperity of the cultural industry, face the market and the whole country, and set up a market-oriented connection mechanism between high-quality cultural industry resources and financial resources. The fund will focus on industrial investment in the field of culture, focusing on new media industry, network culture industry and TMT industry combined with culture, relying on the development of Internet and mobile Internet, and achieving wide coverage of excellent investment management teams in the field of domestic culture through fund investment. And select the best from the elite, and make direct investment in the core enterprises with clear model, strong certainty and platform potential, as well as excellent projects in the growth and mature stage.

following the launch of the "Shanghai mass entrepreneurship and innovation Cultural Industry Investment Mother Fund", the propaganda Department of the Shanghai Municipal CPC Committee has taken the lead in the layout of the mass source mother fund. "Zhongyuan" and "mass entrepreneurship and innovation" form a two-wheel drive, with a new development concept and a supply side. to create an innovative model of cultural state-owned assets and extensive participation of social capital, adhere to the correct direction, focus on industrial development, and standardize operation and management. We will strive to build a new territory of "culture + finance" in Shanghai, and make new and greater contributions to accelerating the construction of an international cultural metropolis and moving towards a city of innovation, humanities and ecology.

cornerstone investor Shanghai newspaper Group is the most influential and powerful newspaper and publishing group in China. Qiu Xin, secretary of the party committee and president of the group, said that the launch of the Zhongyuan Mother Fund is an important declaration for the Shanghai newspaper industry to build a modern new mainstream media group and carry out reform and innovation to the end. In the future, we hope to give full play to the parent fund effect of various sources, and build a commanding height to guide the gathering of funds, industrial capital, financial capital, GP team, innovative projects and other aspects of information and resource integration in the field of cultural industry.

Zhu Zhisong, secretary of the Minhang District CPC Committee in Shanghai, a cornerstone investor, said that the Minhang District Party Committee and the district government attached great importance to the establishment of the Zhongyuan parent Fund. regard it as an important starting point for promoting the construction of the core area of the scientific and technological innovation center in southern Shanghai and optimizing the layout of government investment funds. Strive to attract a number of excellent cultural venture capital institutions, cultural and creative space, cultural innovation and entrepreneurial projects and talents to Minhang and Shanghai through the parent fund and its equity sub-fund.

Shanghai Pudong Development Bank, a cornerstone investor, is a leading bank in the transformation of domestic asset management business. Liu Xinyi, president of Pudong Development Bank, said that Pudong Development Bank has been committed to participating in the construction of cultural and emerging industries to help the development of the real economy. It is hoped that Zhongyuan Capital, under the guidance of the government's cultural industry resources, will give full play to the advantages of all parties, innovate cultural contents, forms, means and methods, accelerate the strategy of "Internet +" and "culture +", and stimulate the endogenous driving force of industrial development.

according to reports, in November, in the second week after the closing of the 19th CPC National Congress, the propaganda Department of the Shanghai Municipal CPC Committee took the lead in the layout and reported to the Group to launch and operate the cultural industry parent fund, the Zhongyuan parent Fund. After the 19th CPC National Congress, the mother fund of the cultural industry, which is first initiated by the "national team", will undoubtedly play a vanguard role in reform, which means that the reform of the cultural industry is seeking a new capital break, so as to achieve great integration and great development. the significance is quite far-reaching.

from the point of view of the industry, the market-oriented operation of cultural industry funds can attract and drive more social funds to invest in cultural enterprises, broaden the financing channels of cultural enterprises, and increase financing opportunities. it is more conducive to the scientific and technological innovation of cultural enterprises and promote the sustainable development of cultural enterprises.

Edit: xiongwei