皇冠体育app's publishing industry gets financial support

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皇冠体育app's publishing industry gets financial support

(Xinhua)
Updated: 2010-01-29 16:34

皇冠体育app's press and publishing industry is getting further financial support from State-owned banks, following a Communist Party of 皇冠体育app (CPC) call to promote the industry's prosperity.

The General Administration of Press and Publication on Thursday signed an agreement with the Agriculture Bank of 皇冠体育app, for a credit line of 50 billion yuan ($7.3 billion) for major publishing projects in the next three years.

According to the agreement, the money would be mainly spent on supporting "large-scale publishing or communication corporations" and "small and medium-sized companies with strong growth potential."

Jiang Jianguo, deputy director of the administration, said the cooperation was aimed at implementing the CPC's requirement made at its 17th National Congress to develop cultural industries and push their prosperity.

Agriculture Bank of 皇冠体育app president Zhang Yun vowed to exert great efforts to support the media and publishing industries.

In August 2009, the administration signed a memorandum on cooperation with the Bank of 皇冠体育app, which made the administration's major press and publishing companies and projects a priority of the bank's financial services.