Innovative policies give industries a boost
Star Park in Beijing's Daxing district is building on its success made during the 13th Five-Year Plan (2016-20) by further implementing innovative policies to foster the growth of its cultural creative industries.
The park, which was launched in 2005, produces more than 2,000 television programs every year, rolling out popular titles such as Avenue of Stars.
Star Park is one of many bases for the production of creative content located in Daxing's 4.16-square-kilometer China Media and Innovation Park.
The vast majority of China's mainstream media outlets have production bases located at Star Park, including China Central Television, as well as video streaming platforms like Youku, iQiyi and Bilibili.
One of the many secrets to the park's success is innovative policies that have been introduced to create a good environment for creative businesses.
In the early days of a company's operations, the search for adequate funding can be a continual struggle, and so the park has introduced a "rent for equity" policy that allows young companies use the rent that they pay to invest in their future growth.
"The base actively tries to innovate and explore, and the successful case of rent for equity not only supports the development of enterprises, but also provides an opportunity for industrial development and the operation of state-owned capital," said Yue Liye, deputy general manager of China Media and Innovation Park.
As a result of the implementation of such policies throughout the park, businesses have thrived and new businesses have been attracted to set up production bases.
"During the 13th Five-Year Plan period, the total economic volume of the cultural industry of the China Media and Innovation Park has increased significantly, and the number of culturally regulated enterprises has grown from 10 to more than 30," Yue said.
"The total income of the cultural industry has grown from less than 1 billion yuan ($154.4 million) to over 10 billion yuan now."