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Pingshan signs ¥12.6b deal

Time:2014-05-20   Source:Shenzhen Daily

TWO new cultural projects involving a total investment of 12.6 billion yuan (US$2 billion) will be built in Pingshan New Area, Shenzhen, China, according to a press conference held at the 10th China (Shenzhen) International Cultural Industries Fair (ICIF) on Friday.

China Wenhui Chinese-Media Holdings Ltd. will build an Overseas Chinese Media Center with Forbes Financial Centers Development Ltd. at a cost of 3.6 billion yuan.

The center will include a headquarters for the Forbes Forum, planned to be held in Shenzhen at least once every year, in addition to a business college. It is expected to attract over 100 international media groups and companies.

Central Digital TV Media Co. Ltd. plans to build a project called Central Digital Omnimedia Cultural Town in the new area at a cost of 9 billion yuan.

“The projects will stimulate the growth of the cultural industry in the new area as Pingshan is set to celebrate its fifth anniversary in June,” said Wu Delin, head of the Pingshan New Area government.

Pingshan has attracted several important cultural projects through the ICIF in the past four years. In 2010, Pingshan signed a deal with Huayi Brothers, a leading film company in the country, to build the Huayi Brothers Culture City at a cost of 1.3 billion yuan.

At the ICIF in 2011, Cartoon Nation International Culture Town and a cultural industries center of China Cultural Media Group Ltd. were introduced to Pingshan. In the same year, Pingshan also launched the project of Kendu International Animation Town.