A senior Chinese TV and film administration official has rejected claims that the government is back-pedaling on its policy of allowing foreign investment in its broadcasting, film and TV industry and said the policy would not alter.

"China will stick to the opening and reform policy in the broadcasting, film and TV industry," said Zhu Hong, general office director of the State Administration of Radio, Film and Television. Zhu said there had been claims brought up about a case long ago and said China's policy in this respect had changed. "This view distorted the fact and was wrong," said Zhu, stressing that the policy remained unchanged and would not change in the future.

In 2004, the administration and the Ministry of Commerce jointly issued two regulations on foreign investment in the film and TV industry, allowing foreign investors to hold no more than 49 percent of film and TV production joint ventures.

In May, China opened up 921 cultural projects covering fields such as film and television with a total value of about 70 billion yuan (8.75 billion U.S. dollars) in hope of drawing investment from both home and abroad.

China has eased restrictions on access to the mainland market for Hong Kong's film and television industry. Quota restrictions on the number of Hong Kong films in the mainland market have been largely lifted. China's broadcasting, film and TV industry is experiencing a deep reform which involves unprecedented areas and far-reaching effects. The reform also provides strategic opportunities for China's broadcasting, film and TV industry.

Source:佚名