OREANDA-NEWS. March 13, 2012. Under the State policy, China's culture and creative industries have seen robust growth over the past few years driven by the market demand. Beijing gathers a large group of cultural creative companies, and most of them are small and mid-sized enterprises with unique industry characteristics and business model. After careful study, ICBC Beijing Branch offers tailored financing solutions to cultural creative companies in line with their characteristics in a bid to help them obtain bank loan, reported the press-centre of ICBC.

A small company primarily engaged in media business involves media investment and financing, planning, production and distribution of films and TV, as well as the development of Film Production Base. During 2009-2010 this company worked with a European company to produce an animated film. The film was released in China beginning from 2011. According to the agreement, the distributor only returned the box office revenue in all cinemas 45 days after the film stopped on show. Hence, there is a certain period to collect back the box office revenue.

ICBC Beijing Branch collected the details (the sales of movie tickets in all cinemas, the qualification of the distributor, the collection procedure of box office revenue) from different channels. Based on the company's amount due, funding requirements and business model, ICBC Beijing Branch designed a tailored domestic factoring solution for this company using the box office revenue receivable after the film was released. This is a fruitful attempt of the Branch to support the growth of small cultural creative companies.

In 2011, ICBC Beijing Branch spent huge tenuous efforts to support the cultural and creative sectors. First, ICBC established close contact with the government and third-party organizations and built long-term strategic partnership with key pacesetting companies; Unique branch and point-to-point marketing service scheme have been set up with the industry clusters. Meanwhile, ICBC Beijing Branch studied the market and embraced product innovation to help cultural companies obtain back loan despite their small business scale and lack of assets for mortgage. The Branch provided loans to Bona Film Group Limited, Huayi Brothers Media Corporation for the production of 15 films, using new models like loans secured by copyright, closed management on box office cash flow. Besides, ICBC Beijing Branch offered other services to cultural companies such as electronic banking, personal banking wealth management, pension fund and settlement. Examples are: "Green Living – Yang Lan • Money Link Card" co-sponsored with Sun Media Group, the "Jackie Chan Yaolai ICBC Money Link Card" issued in conjunction with Jackie Chan Yaolai Beijing International Studios Management Ltd., and TV bill payment service launched with Beijing Gehua CATV Network Co. Ltd.