Shenzen fair enhancing cultural cooperation

The 14th China (Shenzhen) International Cultural Industries Fair will kick off in Shenzhen on Thursday, with cultural cooperation between Belt and Road countries expected to reach a higher level.

Spanning 105,000 square meters, the fair will see more than 2,300 exhibitors from over 40 countries and regions across the world showcasing their cultural resources and developments.

The cultural exhibition is increasingly become internationalized, as more and more industry players from overseas join in. More than 10 countries and regions, including Sweden, Canada and Mexico, will be participating for the first time.

The annual event serves as a platform for government departments, enterprises and organizations from all over the world to participate in exchanges and seek cooperation in the cultural industry.

Internationalization is a key objective of the fair, said Jin Hong, deputy head of trade development bureau of the Ministry of Commerce.

The event aims to increase cultural exchanges, enhance cooperation between Belt and Road countries, promote mutual benefits and improve cultural integration between China and other countries, she told reporters during a press conference in Shenzhen on Wednesday.

The fair will help promote cultural trade and investment between countries involved in the Belt and Road Initiative by organizing a number of activities including exhibitions, forums, negotiation meetings and signing ceremonies.

The event is also an opportunity to promote Chinese culture internationally and increase the country’s worldwide influence.

The cultural and creative industries in Shenzhen have expanded in recent years. The southern city in Guangdong province is home to nearly 50,000 cultural and creative enterprises, of which 40 are listed companies.

Last year, added value of the city’s cultural and creative industries amounted to 224.4 billion yuan ($35.1 billion), growing 14.5 percent year-on-year and making up over 10 percent of the city’s gross domestic product.

Benefiting from the industry’s growth, Shenzhen-based cultural and tourism enterprise OCT Group saw its operating revenue surge 47.7 percent year-on-year to 80.1 billion yuan while profit doubled, reaching 19.1 billion yuan.

The event will last from May 10 to 14.