With a total scale of 1 billion yuan, the Wenjin Cultural Tourism Industry Development Fund helps Hubei build a cultural benchmark

"Wenjin" Cultural Tourism Industry Development Fund (Phase I) Signing Ceremony.

In order to cultivate and develop a number of benchmarking, leading and exemplary cultural tourism industry and digital economy operation projects in the province, and create a regional cultural benchmark, on December 23, 2020, at the Hubei Financial Support Cultural and Tourism Industry Development Seminar and Project Matchmaking Conference, the "Wenjin" Cultural and Tourism Industry Development Fund was officially signed and established, with a total scale of 1 billion yuan in the first phase.

This seminar and project matchmaking meeting is the first activity of the Ministry of Culture and Tourism "Cultural and Tourism Industry Investment and Financing Promotion Activities under the Digital Economy" in Hubei, guided by the Propaganda Department of hubei provincial party committee and the provincial department of culture and tourism, and hosted by the provincial cultural and financial service center, aiming to promote the integration of culture and finance, support the cultural tourism industry to take digitalization as the core, drive and lead the industrial development direction in terms of new technologies, new formats, new products and new services, and promote the high-quality development of the cultural tourism industry.

At the meeting, Hubei Provincial Cultural And Financial Services Center, Hubei Governor's Investment Operation and Investment Co., Ltd., Guotai Junan Shenyi (Shenzhen) Fund Management Co., Ltd., Innovation Synergy (Wuhan) Capital Management Co., Ltd. and other four institutions held a signing ceremony as fund promoters, and then will jointly set up the "Wenjin" Cultural tourism industry development fund with a total scale of 1 billion yuan in the first phase.

According to reports, the "Wenjin" Cultural Tourism Industry Development Fund is a cultural tourism industry fund based on Hubei's cultural tourism industry and consumer industry and radiating throughout the country. The fund has three major investment directions: "cultural content" including priority investment in digital cultural creation, IP industry, content live e-commerce projects, etc.; "cultural tourism" cultural tourism complexes, scenic spots and high-quality cultural tourism equity projects that can demonstrate and drive the local consumption and business environment in Hubei; and "cultural mergers and acquisitions" mainly for small and medium-sized enterprises and growing enterprises in the cultural tourism industry in the province.

Wang Jinpeng, the initiator of the fund and the general manager of the Hubei Provincial Cultural Financial Service Center, said that the fund will cooperate with the positioning and strategic development requirements of the cultural tourism industry in Hubei Province, integrate upstream and downstream resources around key industries and the matrix of listed companies, and plan to use 3-4 years to achieve the advantageous layout of key areas such as cultural tourism consumption nationwide. (Text/Photo by Cheng Tao, Lin Sen)