China’s media and culture-related industry to contribute 5% of GDP by 2022, USD 1 trln expected
Dec 03, 2019 (China Knowledge) - At the recent China Cultural and Economic Development Forum it has reported the country's media and culture-related industry had gained an annual growth of 13.7% since 2012. It is expected that by 2022, culture and media industry will become one of the pillar industries in China, contributing 5% of GDP.
During the 13th Five-year Plan (2015-2020), culture and media industry has maintained steady growth, with the proportion of its gross value added (GVA) in GDP increasing from 3.97% in 2015 to 4.3% in 2018, and expect to reach 4.74% in 2020.
It is estimated that in the next 14th Five-year Plan (2021-2025), the culture and media industry will receive fix-asset investment of RMB 10 trln, contributing 8.2% of overall investment among all industries. And the total amount of the Chinese population's spending and consumption in this sector will exceed RMB 2 trln, with an average annual growth rate of 6.2%.
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