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Showbiz opens up to foreign investors The applicant would be informed of the final decision within 40 days after applying. If approved, a certificate would be issued. Explanations would be given to those with denied applications.
The regulations also apply to investors from the Taiwan Province. Those from the Hong Kong and Macao special administrative regions can either be sole investors in performance agencies and venues in the mainland, or they can set up joint ventures with mainland investors. Besides the difficulties of entering the market, the barriers encountered in hosting each show also reduced the number of good quality performances and ticket prices soared, Vice-Minister of Culture Meng Xiaosi told 皇冠体育app Daily. "A troupe or an agency needs governmental permission to host a show," she said. "As for performances of foreign troupes in 皇冠体育app, only a very limited number of agencies were able to get permissions." She added that quite a few of the agencies are illegally giving out such approvals to host shows. The price to get permission to host a performance of a foreign troupe can be a minimum of 100,000 yuan (US$12,300). But under the new amendment, people can no longer get their profits this way, said Wang. Agencies that have operated for two years without
breaking any laws and with a stipulated amount of registered capital can all get
approvals to organize performances of foreign troupes on the mainland, according
to Article XV of the amendment.
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