On Saturday, the State Council revealed its aim of encouraging a big increase in exports of culture-related products and services, narrowing the trade deficit in the industry, and creating more jobs. As per the guidelines, publishing, film making, entertainment, animation, online games and multimedia are all included in the culture industry.

The government mulls to permit private and foreign investors to enter selected areas and participate in the stockholding renovation of state-owned culture companies, as per the measures outlined by the cabinet. The cabinet said: "The government also plans to inject capital into a proposed culture-industry investment fund and to encourage major state-owned enterprises and financial institutions to invest in the fund."

The cabinet aims at giving confidence to banks to lend more to companies in the culture industry and support their fund-raising via the stock market.