China to inject $157 mn in film, media projects

July 10th, 2012 - 12:04 am ICT by IANS  

Beijing, July 9 (IANS) China plans to inject more than 1 billion yuan (about $157 million) in film and media enterprises over the next six months, it was reported Monday.

The money will be made available by China Culture Industry Investment Fund, the China Daily reported.

It has in the past invested in leading Chinese media companies like Xinhuanet, the web portal of the official Xinhua news agency, and the state-run China Publishing Group.

The investments will focus on three areas - traditional media, new media and culture-related industries, such as film production and publishing houses.

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