First investment fund for China’s cultural industry launched

The China Media Capital, the first domestic private equity fund focusing on cultural and media industries in China, was officially launched after raising 2 billion yuan in the initial stage in Shanghai on June 21.

As the first cultural industry fund that has been filed with China’s National Development and Reform Commission, the investment size of the China Media Capital is 5 billion yuan and its main initiators and investors include institutes such as Shanghai Huijin Cultural Industry Investment Company, owned by Shanghai Media Group, and the Financial Company under China Development Bank.

China Media Capital will focus on restructuring and reorganization as well as industry consolidation and innovation in fields of culture and media. It will also explore the construction of China’s own platform for global media investments and operations, said Li Ruigang, chairman and general manager of China Media Capital.

By People’s Daily Online


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