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China's cultural industry reports improving revenue

Updated: Aug 02,2020 08:07 PM    Xinhua

BEIJING — China's cultural industry reported improving revenue as the effects of COVID-19 gradually waned amid effective epidemic control in the country, official data showed.

The sector's combined revenue amounted to 4.02 trillion yuan (about $575.5 billion) in the first six months, down 6.2 percent year-on-year, according to the National Bureau of Statistics (NBS).

The decline narrowed from the 13.9-percent fall registered in the first quarter.

Sectors with emerging models led by "Internet Plus" cultural businesses saw revenue rise by 18.2 percent to 1.29 trillion yuan during the period.

The bureau tracks around 59,000 cultural companies across sectors, including cultural services and cultural manufacturing, with annual revenue of more than 20 million yuan or those meeting other standards listed by the NBS.

China plans to develop its cultural industry into a pillar of the national economy by upgrading its industrial structure, fostering major brands and boosting consumption.

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