The cultural industry suffers from the coexistence of insufficient effective supply of peak content and oversupply of ineffective content, and the Metaverse has entered a stage of rapid development.

China Finance News reported on September 23, “We hope to cooperate with relevant financial institutions to establish a special culture and art fund to drive social capital investment, attract social capital cooperation, form a diversified investment pattern, and improve the market competitiveness and profitability of cultural enterprises. And promote the optimization of the layout of state-owned capital through development funds and capital operations, and improve the efficiency and value of state-owned capital." Jing Xiaoyong, Secretary of the Party Committee and Chairman of China Oriental Performing Arts Group, said at the "12th Cultural and Financial Innovation Conference" on September 22 ” said the above.

However, from the perspective of financial empowerment of the cultural industry, Chen Xuexue, member of the party committee, director and deputy general manager of China Animation Group Co., Ltd., believes that there are still several shortcomings in my country's cultural industry that need to be improved: First, there is an effective supply of peak content in the cultural industry. The coexistence of insufficient and ineffective supply and excess; second, the industrial structure is not optimized enough and the market order is further standardized; third, the protection of intellectual property rights is insufficient; fourth, there is a lack of theoretical research.

According to Chen Xuexue, the cultural industry is mainly supply-driven rather than demand-pull. At present, the capital required for financial empowerment of cultural industries can be divided into three aspects. In the core stage of IP formation, first, government support funds, accounting for about 30%; second, preference capital, which is divided into positive preference and bias. Preference is the most effective and valuable capital, accounting for about 40%, which determines product quality and IP value; the third is venture capital, which is venture capital, accounting for about 30%, which is determined by the nature of capital. . Therefore, it is necessary to strengthen theoretical research, formulate policies that are consistent with the development of the cultural industry, and create excellent and high-quality content works.

The Financial Associated Press noticed that the Metaverse industry attracted a lot of attention at this meeting. The meeting also held a signing ceremony for strategic cooperation in the cultural construction of the Yuan Universe. Chinese Translation Publishing House, the Yuan Universe Industry Committee and the Only Art jointly signed an agreement. Li Yingxuan, the co-founder of the Only Art, said that this powerful alliance between the three parties will bring great benefits to the publishing industry and the Yuan Universe. The integration of the universe creates model cases and explores new paths for the cultural construction of the metaverse. At present, my country's metaverse industry has entered a stage of rapid development, and has recently received a series of favorable policies. At the beginning of this month, the Ministry of Industry and Information Technology, the Ministry of Education, the Ministry of Culture and Tourism, the State-owned Assets Supervision and Administration Commission, and the State Administration of Radio, Film and Television jointly issued the "Three-Year Action Plan for the Innovation and Development of the Yuan Universe Industry (2023-2025)", which pointed out that investment funds such as small and medium-sized enterprise development funds should be guided to support the Yuan universe. To develop the space industry, improve the fund management system and improve the market-oriented operation mechanism of the fund. Guide the establishment of the Yuanshi Industrial Fund, make good use of the national industry-integrated cooperation platform, reduce financing costs, and support enterprises to become bigger and stronger.

In addition, the Ministry of Industry and Information Technology recently released the "Preparatory Plan for the Metaverse Standardization Working Group of the Ministry of Industry and Information Technology (Draft for Comments)", proposing that China needs to organize domestic key enterprises, scientific research institutes and other advantageous resources as soon as possible to strengthen the standardization work of the Metaverse industry.

The rapid development of AIGC (generative artificial intelligence) has promoted the continuous improvement of the production efficiency and innovation capabilities of the cultural industry, and has built a complete ecological system for the digital transformation of the cultural industry.

Liu, founder of Kairong Investment