Financing and investment firms can further facilitate the high-quality development of cultural products and services, thereby helping cope with the downward pressure exerted by the slowing economic growth, experts said.
Traditionally, the cultural products industry had been ridden with high uncertainty, risks and low level of stability. Hence, investors tended to steer clear of it.
But, as the country is mulling more supportive policies to give a fillip to the cultural products industry, a host of sectors are now looking at it. They include investors, financiers, insurers, consumer finance providers and tax policy experts.
Wang He, former vice-president of the People's Insurance Company of China, said finance firms tend to expect their clients to be controllable and whose value can be specifically defined, but the cultural industry is full of uncertainty. "We can only know the value of a film through its box-office data after its release.
"Financial firms should understand, accept and respect the nature of the cultural industry, and enhance risk management by various technological methods."
Wang further said such services are already available in the market. Beijing-based tech company Trinity Earth, for instance, is able to assess a play or film and predict its popularity in advance using big data.
He said cultural content producers can also use the intellectual property as mortgage.
