MOF invest RMB 208 billion in culture, sports and media areas



October 16: The Ministry of Finance of the People’s Republic of China (MOF) has unveiled its fiscal revenue and expenditure for the first three quarters of 2017. 

According to a representative of the MOF, the expenditure for culture, sports and media areas reached 208.1 billion, 10.7% more than the amount last year. 

In fact, the MOF announced in April 2017 that the fitness and recreational industry would become one of the major projects supported by the MOF’s special fund for the cultural industry. 

According to China’s General Administration of Sport, the administration taking charge of the development of the fitness and recreational industry will have a special fund to  to support the planning, construction and operation of sports facilities such as ice rinks, ski resorts, camping areas for aerosports and hiking and docks for canoeing and yachting.

Additionally, sports industry demonstration parks and recreational towns will also benefit from this special fund. 

Source: Bingxue Toutiao 

Proofread by Raymond Fitzpatrick