Entertainment industry to be opened to Taiwan investment

Minister for Culture Cai Wu said Beijing is set to permit Taiwan businessmen to set up and run entertainment businesses on the mainland, Bloomberg reported, citing state media. Beijing is reportedly trying to boost Taiwan’s entertainment industry by opening up the mainland market. Wu Poh-hsiung, chairman of Taiwan’s ruling Kuomintang, said that Taiwan’s cultural sectors, including broadcasting, news publishing and music, could take advantage of better cross-strait links amid a slowing domestic market. During the fifth annual cross-strait talks in Changsha, Cai said that Taiwan firms will be allowed to run performance venues in China via joint ventures with local firms or by funding venues themselves. Taiwan-based entertainment brokerages will also be allowed to set up branches on the mainland.