By Chen Feng, Research Institute of Public Administration and Human Resources, DRC

Research Report, No.404, 2021 (Total 6469) 2021-12-21

Abstract: Financial infrastructure is a key part of China’s financial system and plays an important role in connecting financial institutions, maintaining market operations, serving the real economy, and fending off financial risks. Cultural finance infrastructure is the core of the cultural finance system, which can exert spillover effect and drive the development of China’s cultural finance and economy. This paper gives an illustration of the progress in the building of China’s cultural finance infrastructure in terms of institutional framework, credit system, and financialization of cultural assets. It notes that some problems still remain in the evaluation system of intangible assets, the credit and information system of the cultural industry as well as the development of the cultural exchange market. It argues that efforts are needed to improve the intangible asset evaluation system, refine credit system of the cultural industry, establish a mechanism pertinent to earmark statistics and monitoring on cultural finance market, enhance the market liquidity of cultural assets on the New Fourth Board and strengthen the supervision and support of the culture equity exchange.

Keywords: cultural finance, infrastructure, intangible asset evaluation, credit system