First Credit Product for Culture Industry to be Launched in China

2010/08/17

Bank of China Zhejiang Branch has launched a credit product specially developed for businesses in the experimental zone of Hengdian Movie and TV Industry in Zhejiang province, which is the first credit product for the culture industry in China. In spite of its rapid development, lack of affirmation of copyright values, evaluation systems and collateral fixed assets make financing the biggest challenge for the movie and TV industry. Therefore, the experimental zone of Hengdian Movie and TV Industry made joint efforts with Bank of China Zhejiang Branch and Dongyang Branch, launched this credit product after much in-depth research. It is reported that with this product one can get loans through various security devices such as mortgages, guarantees, pledges of receivable accounts and pledges of copyrights