Wuhan Sets Up a Cultural Enterprise Credit Risk Pool Fund of CNY 400 Million to Benefit Small Enterprises
Release time：2017-08-10 11:20
The copyright can be pledged to a bank for financing.
An enterprise can obtain an interest subsidy of a maximum of CNY 500,000 every year.
Yesterday, in the signing ceremony of Wuhan Cultural Enterprise Credit Risk Pool Fund, Wuhan Municipal Cultural Industry Development Office, Bureau of Finance of Wuhan Municipality, and Bureau of Culture of Wuhan Municipality jointly issued Interim Procedures of Wuhan City for Interest Subsidy for Copyright Pledge. An enterprise can obtain an interest subsidy of a maximum of CNY 500,000 every year.
The Interim Procedures is aimed at encouraging copyright development and utilization, and help the enterprises in Wuhan City that possess independent copyrights to solve financing problems. The interest subsidy is mainly granted to the cultural enterprises that have obtained loans from banks.
According to the director of the Bureau of Culture, the highest interest subsidy is 50% of the total interest of copyright pledge actually paid by enterprises, and an enterprise can obtain an interest subsidy of a maximum of CNY 500,000 every year. From this year, the eligible cultural enterprises in Wuhan City can apply for interest subsidies according to the regulations of the Interim Procedures.
Wuhan sets up a Cultural Enterprise Credit Risk Pool Fund.
Credit capital of CNY 400 million will benefit thousands of small enterprises.
Small cultural enterprises have copyrights and creative ideas, but cannot create values due to the lack of funds. Yesterday, the Propaganda Department of Wuhan Municipal Party Committee and Hankou Band signed the strategic cooperation agreement for Wuhan Cultural Enterprise Credit Risk Pool Fund, and credit capital of CNY 400 million will benefit thousands of small enterprises.
The risk pool fund is jointly set up by Wuhan Municipal Cultural System Reform and Development Leadership Team Office and Hankou Bank. Wuhan Municipal Cultural Industry Development Office contributes CNY 20 million as the initial start-up capital, and Hankou Bank contributes CNY 20 million, which forms a risk pool fund of CNY 40 million. After the risk pool fund is set up, Hankou Bank will provides credit capital of CNY 400 million as per the scale of ten times of the fund. The risk pool fund will support the development of small cultural enterprises in the form of cultural loans.
Any small cultural enterprise that is registered in Wuhan, has run for more than one year, and has no bad credit record can apply to Hankou Bank for cultural loans. An individual enterprise can apply for a loan of a maximum of CNY 2 million, and the payback period of the loan may not exceed one year. Hankou Bank will provide a preferential interest rate not exceeding 20% of the benchmark interest rate, and will not impose additional charges. (Reporter Wang Danni, Correspondent Tian Xuefeng and Pan Ying)
That may be of interest to the article
- Engineering Survey and Design Institute Dir
- Wuhan Night held in Beijing Design Week
- Message from Ms Irina Bokova on the Interna
- China's Dinosaur Egg Museum Blends the Anci
- Minja Yang: Let’s String the Pearls of He
- Let Love Wake Ears 2017 Wuhan International
- President's Design Awards 2016, Designer of
- A City Full of Vitality Let Love Wake Ear
- Wuhan: Construct ＂Five Cultural Cities＂
- 2016 Work Report of Wuhan Municipal Governm
- Regulations of Wuhan Municipality on Protec
- The WeChat Official Account of Wuhan Planni
- Wuhan Sets Up a Cultural Enterprise Credit
- Wuhan’s New 30 Articles Provides that At
- Wuhan Industrial Design Development Fund Pr
- Report on the Work of the Government and Po