Shanghai's Cultural Industry and Implications

5 Pages Posted: 30 Aug 2014

See all articles by Su Yeon No

Su Yeon No

Korea Institute for International Economic Policy

Jooyoung Kwak

Yonsei University

Date Written: August 8, 2014

Abstract

Shanghai is one of the regions in China witnessing rapid development in the cultural industry, and has high growth potential as well as a strong influence on neighboring areas. The value added of the cultural industry in Shanghai amounted to CNY 194 billion in 2011, surpassing Beijing (CNY 193.8 billion) and coming in fourth after Guangdong Province, Shandong Province and Jiangsu Province. In 2012, the city ranked fifth in terms of the cultural industry’s competitiveness, second in cultural environment and first in market demand. Shanghai is making active efforts to further develop the cultural industry, building industrial complex of cultural industry, establishing the Shanghai Culture Assets and Equity Exchange (上海文化产权交易所) - the first of its kind in China - and hosting the Shanghai International Film Festival. DreamWorks recently joined the growing influx of culture-related foreign companies into Shanghai, deciding in February 2012 to establish Oriental DreamWorks.

Keywords: Culture Industry, Shanghai, Industrial Policy, China

Suggested Citation

No, Su Yeon and Kwak, Jooyoung, Shanghai's Cultural Industry and Implications (August 8, 2014). KIEP Research Paper No. World Economic Update 14-28. Available at SSRN: https://ssrn.com/abstract=2488448 or http://dx.doi.org/10.2139/ssrn.2488448

Su Yeon No (Contact Author)

Korea Institute for International Economic Policy ( email )

[30147] Building C, Sejong National Research Compl
Seoul, 370
Korea, Republic of (South Korea)

Jooyoung Kwak

Yonsei University ( email )

Seoul
Korea, Republic of (South Korea)

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