China’s cultural industry sees stable growth in H1 ’24

China’s cultural sector saw a stable revenue growth in the first half of this year, according to the National Bureau of Statistics (NBS) on Tuesday.

The sector’s major companies generated a combined operating revenue of nearly 6.5 trillion yuan ($910.82 billion) between January and June, marking a 7.5 per cent year-on-year increase.

Profits within the industry also saw growth, rising by 8.9 per cent to reach 525 billion yuan during the same period.

All sub-sectors contributed to the overall expansion, with the production of cultural equipment demonstrating the most rapid growth at 10.4 per cent year-on-year.

Notably, digital publishing and animation, representing new business models, flourished with a revenue increase of 11.2 per cent to 2.7 trillion yuan, accounting for 60.5 per cent of the sector’s total revenue growth.

The data released by the NBS is based on a survey of cultural companies with annual revenue exceeding 20 million yuan or meeting other specific criteria.

Attribution: Xinhua