Creative-Cultural Industries & Sports
China is currently seeking to expand its cultural economy both in scale as well as quality. The position of the UK as a world-leader in the sector means that UK companies are viewed as some of the ideal partners for making this expansion.
The overall production of the Chinese cultural industry grew by a factor of 60 from 2003 to 2013, rising from 30 billion RMB to 1,807 billion RMB, to account for 3.84% of GDP. Further to this, the Cultural and Creative industries was announced as one of the “industry pillars” in the National 12th five-year Plan (2011-2016) pushing the industry to the front of the countries priorities.
Demand for digital content in China has exploded with the introduction of smart phone technology, construction of cinemas, the already high but increasing rate of internet penetration as well as the near complete coverage by traditional TV broadcasters. This has been reflected in the high growth rate in revenues: the TV industry grew by 11% in 2013, film by 32.9% in 2014 and gaming by 37.7% in 2014. This staggering growth is not expected to slow. Following this trend, British TV exports to China rose by 40% in 2013 to a total revenue of £17m.
With China’s creative and cultural industries booming in recent years a number of strong, financially enabled, players have been established within the majority of the creative and cultural industry ‘sub-sectors’. These companies include both private and State-owned enterprises and are often vertically integrated within their industry. In many cases, these companies are already actively engaging with overseas companies to acquire products and services (and often companies) that are unavailable within Mainland China.
There are, however, other factors beyond domestic consumption that are driving China’s interest in the creative and cultural industries. China is keen to strengthen its ability to project soft power internationally and as said by President Xi “build its capacity in international communication, better use the New Media and increase the Creativity, appeal and credibility of China's publicity”.
Opportunities exist for British companies across film, TV, gaming, animation, music, publishing, marketing/PR/advertising, design (product, fashion, industrial), attractions, tourism and sports. CBBC would like to encourage companies within these sectors to engage with us to explore what could be possible for your business.