China's cultural industry reports steady value-added growth

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China’s cultural industry saw more rapid growth last year, thanks, in part, to a boom in information transmission services, official data showed.

Alone a steady value-added growth last year, the culture industry has also played a bigger role in driving broad economic growth, the National Bureau of Statistics (NBS) report showed.

According to the NBS's data, in 2016, the added value of China's culture-related sectors stood at 3.08 trillion yuan (about 463.9 billion US dollar), rising 13 percent from the previous year.

The added value in the industry accounted for 4.14 percent of China's gross domestic product (GDP), up 0.17 percentage point from the share in 2015.

The NBS tracks some 50,000 companies across 10 cultural sectors — six that offer cultural services and four involved in the manufacturing of cultural products.

China is planning to develop its cultural industry into a pillar of the national economy by 2020 by upgrading its industrial structure, fostering major brands and boosting consumption. /Xinhua Photo

Cultural services saw robust growth. The revenue from information transmission services increased the most by 30.03 percent year-on-year, followed by cultural and artistic services, and recreation and entertainment services.

"Steady growth in China's cultural industry has played an important role in facilitating economic restructuring and maintaining healthy growth," the NBS said.

China is planning to develop its cultural industry into a pillar of the national economy by 2020 by upgrading its industrial structure, fostering major brands and boosting consumption.

Manufacturing of cultural products, although slowing, still accounted for nearly two thirds of the sector’s total revenue.

China's GDP grew 6.9 percent in the first half of 2017, above the government's targeted annual growth of around 6.5 percent.

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