China’s cultural industry demonstrates steady value-added growth

Almaty. October 3. Silkroadnews – China’s cultural industry demonstrates steady value-added growth, Xinhua news agency reported.
“China’s cultural industry saw steady value-added growth last year that has played a bigger role in driving broad economic growth, official data showed,” the report said.
According to the National Bureau of Statistics of the People’s Republic of China, in 2016, the added value of Chinese cultural sectors made 3.08 trillion yuan (about $463.9 billion), which is a 13% growth compared to the previous year.
It is noted that the added value in the industry accounted for 4.14% of China's GDP, which is 0.17% higher versus 2015.
“Steady growth in China’s cultural industry has played an important role in facilitating economic restructuring and maintaining healthy growth,” the National Bureau of Statistics of the PRC said.
By 2020, as reported, China plans to turn its cultural industry into a pillar of the national economy, modernizing its industrial structure, strengthening its major brands and raising consumption.
In the first half of 2017 China’s GDP grew 6.9%, above the government planned growth of around 6.5% per year.