the Beijing Municipal Bureau of Culture and other relevant departments officially began to accept applications from foreign businessmen to set up wholly-owned performance agencies in specific areas a few days ago. From the industry's point of view, this will further promote the activity and richness of the Beijing performance market, and at the same time enable domestic performance agencies to have more contact with overseas companies, increase opportunities for cooperation and exchanges, and promote their own development.
original title: foreign investors set up wholly foreign-owned performance agencies to examine and approve
reduce the cost and increase the speed of overseas high-quality performances in China in October last year, the decision on temporarily adjusting the special management measures for administrative examination and approval and access in Beijing was formally issued, proposing to "select specific areas where the cultural and entertainment industry is concentrated, and allow the establishment of wholly foreign-owned performance agencies to provide services within the Beijing municipal area." Previously, foreign investors could only set up performance brokerage institutions and performance venue management units with Chinese investors in accordance with the law of Sino-foreign equity joint ventures and Sino-foreign cooperative ventures, and the investment proportion of Chinese partners should not be less than 51%. Director of the examination and approval Office of the Municipal Bureau of Culture, you Guanghong said that after the release of the relevant policy documents, it has attracted the continuous attention of many foreign businessmen. at present, 4-5 foreign businessmen are willing to set up joint ventures or wholly-owned institutions in Beijing. On May 3 this year, the Beijing Municipal Bureau of Culture has approved the establishment of wholly foreign-owned performance agencies in specific areas of Beijing for examination and approval, and relevant departments have begun to accept applications. It is reported that according to the actual situation in Beijing, the comprehensive pilot project has selected Shijingshan District National Comprehensive Service Industry Reform pilot area, Tianzhu Comprehensive Free Trade Zone Cultural Free Trade Park, Chaoyang District National Cultural Industry Innovation Experimental Zone and Pinggu District China Le Gu Park as specific areas for foreign investors to set up wholly-owned performance agencies. data show that as of May this year, there were 1678 performance agencies approved according to law in the city, of which 1664 were domestic performance agencies, one was a Sino-foreign joint venture performance agency, and the rest were wholly owned by investors from the Hong Kong and Macao Special Administrative regions or joint ventures and joint ventures with mainland regions. At the same time, in the past two years, the number of approved overseas performance projects accounted for 1 / 3 of the total number of performance projects in the city. Yang Hongbin, secretary-general of the Beijing performance Association, said that allowing foreign investors to independently invest in the establishment of performance agencies means that more foreign people in high-quality cultural products, forms of entertainment and cultural fields will have the opportunity to circulate and gather in Beijing. In the past, domestic performance organizations introduced foreign performance resources every year, but there were often some convergence problems, which led to the high cost of high-level performance in the department. After the entry of wholly foreign-owned brokers, they will introduce more first-hand performance resources to enrich the performance market and promote domestic performance products to the international market. at the same time, there are also voices saying whether this will have an impact on domestic performance agencies. In this regard, some practitioners believe that foreign counterparts are both our competitors and partners. "wholly foreign-owned performance agencies can bring more experience and models to their domestic counterparts," said Yang Bo of Beijing Chunqiu Yongle Culture Communication Co., Ltd. Edit: nancy