Experts pointed out that the intangible assets assessment system of China’s cultural industry is not mature enough. The existing market lacks a unified standard and circulation platform for evaluating intangible assets. Accounting standards are in a fuzzy zone for the confirmation of intangible assets. At the same time, financial institutions are still subject to the traditional risk culture constraints. Most banks adhere to the financing concept of ”heavy mortgage” and ”heavy financial statements”, and have insufficient experience in judging the ability of Wenchuang enterprises to undertake loans.Click Here For More.
“China’s cultural industry is still in a state of urgent need for funds, especially in the case of small and medium-sized cultural enterprises that are difficult to finance and expensive to finance.” Gu Liangfei said. An Qingsong believes that at present, China’s cultural industry products and services are not innovative enough, high-quality cultural products and services have not been fully developed, the entire industrial chain layout is still not perfect, and professional capabilities in content production, industrial services, technical equipment and other fields need to be improved. In addition, the cultural industry has the characteristics of high investment, long payback period, and difficulty in assessing intangible assets, which leads to a large risk of investment in cultural industries, which indirectly leads to financing difficulties. ”In general, in the subdivided trade structure of the cultural industry, cultural enterprises with good business models and growth are still a minority. Some industries have overheated investment and high valuation of the industry, which narrows the future development space.” An Qingsong said that the changes in the production mode and business model of the cultural industry will also bring new challenges to the innovation and development of the financial support cultural industry.
Zhou Yanli, the former vice chairman of the China Insurance Regulatory Commission, said that most of China’s cultural enterprises are small in scale with less tangible assets, more intangible assets, insufficient collateral collateral, and unclear profit models. This also restricts the rapid growth of cultural enterprises and hinders culture. The prosperity of the industry.
Promoting blood circulation to accelerate the new development
The development and prosperity of the cultural industry cannot be separated from the financial irrigation. Then, how should we better play the role of finance in promoting the cultural industry in the future? Experts pointed out that the development of cultural finance is a systematic project involving the maturity of the external environment such as institutions and trading platforms, as well as the actual development of the cultural industry itself and the supply of products at the financial side. This is a gradual process that cannot be accomplished overnight. In this process, we must follow the laws governing the development of the cultural industry and target the issues. Gu Liangfei said that the cultural industry is a comprehensive industry that integrates the first two or three industries in the national economy. Financial assistance to the cultural industry to achieve profound changes and leap-forward development requires the opening of the “blood vein” of cultural finance and the formation of government, cultural enterprises and research institutions.