RMB232 Billion of Deals Inked at ICIF

SHENZHEN, China, May 26, 2014 /PRNewswire/ -- Contracts worth 232.499 billion yuan (US$37 billion) were inked at the five-day 10th China (Shenzhen) International Cultural Industries Fair (ICIF), which was organized by Shenzhen International Cultural Industry Fair Co., Ltd and ended on May 19th, up 39.64 percent compared with last year.

Of the total deals, 16.138 billion yuan, or 6.94 percent, were contributed by exports of cultural products, according to the organizer. The total export volume of cultural products of ICIF over the past decade has exceeded 100 billion yuan. The 54 sub-venues of the fair yielded 106.439 billion yuan in trade volume, accounting for 45.78 percent of the total.

Overseas exhibitors from 45 institutions of 22 countries and regions, including Russia, Lithuania and Belgium, occupied 15.1 percent of booths at Shenzhen Convention and Exhibition Center in Futian District, the fair's main venue.

The fair organizer said it has reached cooperation agreements with chambers of commerce in 16 countries, which will be authorized to help promote the fair in their countries. A record number of 17,696 overseas buyers from 95 countries and regions participated in the fair.

The integration of culture with other industries was an important highlight of the 10th ICIF. Projects on the integration of culture with other industries such as "Culture + Finance", "Culture + Tourism", "Culture + Technology", and "Culture + Creativity" which represent the trends of cultural industries accounted for 70% of all exhibition projects of the 10th ICIF. The trade volume of Culture + Technology reached 118.288 billion yuan, accounting for 50.88% of the total, an increase of 83.91% compared with that of last year. Turnover of Culture + Tourism reached 23.048 billion yuan, occupying 9.91 % of the total, and was 69.91% more than that of last year.