华侨城文化产业指数是中国第一只在交易所挂牌的文化产业相关市场指数，它的诞生开创了中国资本市场在文化产业指数领域的先例，推动了文化产业公共服务平台建设与文化产业投融资体系的完善。北京大学哲学系教授、北京大学文化产业研究院副院长陈少峰表示，华侨城文化产业指数的推出正当其时，未来资本市场还将从多个层面推动文化产业向前发展。

Oct culture industry index is China's first only in listed of the cultural industry of the relevant market index,Its birth was opened China's capital market in the cultural industry index areas of precedent,To promote the cultural industry public service platform construction and culture industry investment and financing system consummation.Beijing university professor of philosophy/Beijing university institute of cultural industry, vice President of the ChenShaoFeng said,Oct culture industry index to the frontlines of the launch,The future capital market will also from multiple aspects promote cultural industry development forward.

　　指数上市正当其时 Index listed as time

　　“文化产业”一次最早是在2000年公布的“十五”规划中第一次提出的。2011年通过总结我国文化改革发展的丰富实践和宝贵经验，指出加强文化建设的重要意义，明确提出“加快发展文化产业，推动文化产业成为国民经济支柱性产业”，文化产业就上升到了一个前所未有的地位。陈少峰表示，这样一个重要的产业，离不开资本市场的支持。

"Culture industry"A was first published in 2000"15"Planning for the first time put forward.In 2011 through the summary of the development of the reform of our country culture and rich practical experience,It is pointed out that the important meaning of the cultural construction,Clearly put forward"Accelerate the development of cultural industry,Promote cultural industry has become a backbone industry of the national economy",Culture industry is risen to an unprecedented position.ChenShaoFeng said,Such an important industry,Without the support of the capital market.

　　事实上，目前我国的文化企业已经出现了两极分化的态势，并且优质企业的数量要远远少于盈利能力较差的企业。在少数的优质文化企业之中，在A股上市的文化企业都是其中的佼佼者，这样的一些企业代表了中国文化产业的发展方向。“华侨城文化产业指数挂牌之后，就提供了一个从资本市场观察中国优秀文化企业的视角，”陈少峰说。“目前市场已经对文化产业产生了关注，编制文化产业指数有着一定的指标意义，通过指数可以看出文化展业在发展中的特点，特别是上市公司的经营变化。指数的编制也是一个动态的过程，样本股的每一次调整，都增加了文化产业指数的代表性。”

In fact,At present our country culture enterprise has appeared polarization trend,And the number of high-quality enterprise will be far less than profitability poor enterprise.In a few of quality culture of enterprise,In the a-share listed cultural enterprise is one of the outstanding person,Such a few enterprises represents China's cultural industry development direction."Oct culture industry index after listing,Provides a from capital market observation Chinese excellent culture from the point of view of enterprise,"ChenShaoFeng said."At present the market has already produced cultural industry attention,Prepare culture industry index has certain index significance,Through the index can see that cultural acquisition in developing characteristics,Especially the listed company business changes.The preparation of index is a dynamic process,The sampled stocks every time adjustment,All increase the cultural industry representative index."

　　陈少峰认为，今后几年，随着国家对文化产业的扶持、加上文化产业自身的发展，会有越来越多的文化产业公司上市，文化产业公司会成为资本市场中一个很重要的版块，到那时文化产业指数就会发挥更加重要的作用。因此现在推出文化产业指数正当其时。“随着指数本身的完善，这一指数将成为投资者重要的投资参考，指数的权威性和影响力也会随着编制方法的完善与文化产业的发展逐渐释放。”

ChenShaoFeng think,In the next few years,Along with the country the culture industry support/With the development of the cultural industry itself,There will be more and more cultural industry listed companies,The cultural industry company will become a capital market in a very important section,By that time the cultural industry index will play more important role.So now launched the cultural industry to the frontlines index."With the improvement of the index itself,The index will become investors important investment reference,Index authority and influence will also with the establishment method of the perfection and the development of cultural industry gradually release."

　　作为已上市多年的文化央企华侨城，此次冠名首个中国资本市场文化产业指数也有着重要的意义。“华侨城上市较早，是资本市场的受益者。华侨城的文化旅游业务会越来越重要，编制这样的一个指数，展现了华侨城作为中国文化产业旗舰的姿态，有着很强的象征意义。”

As already listed years of renmin culture oct,The named the first China's capital market culture industry index also has the important meaning."Oct listed earlier,Is the capital market beneficiaries.Oct cultural tourism business will be more and more important,Prepare such a index,Show the oct as China's culture industry flagship attitude,Have a strong sense of symbolic meaning."

　　资本市场力推文化产业 Capital market push cultural industry

　　“在国家对于文化产业的扶持政策中，力度最大的就是鼓励文化企业上市，”陈少峰对于资本市场对文化产业推动作用评价颇高。目前文化企业上市融资已经受到优先扶持，文化产业也成为国家新兴的战略产业。“文化企业上市，不仅获得了有力的资金支持，企业自身也会通过上市变得更加规范，更有利于企业的长远发展。”

"In the state of the cultural industry in the support policy,The biggest strength is to encourage cultural enterprise listed,"ChenShaoFeng for capital market to the culture industry role quite high evaluation.At present cultural enterprise listed financing has been priority support,The cultural industry has become the emerging national strategic industry."Culture enterprise listed,Not only won the powerful financial support,Enterprise oneself will also through the public become more standard,More conducive to the long-term development of the enterprise."

　　中国的文化产业市场化起步较晚，与国外的文化企业相比还有着很多差距，而资本市场可以有效地帮助中国的优秀文化企业弥补这些差距。陈少峰认为，中国的文化企业与国外的文化企业相比主要的差距有两点。一是市场化程度不够，市场要素的自由流动、企业的竞争机制不够完善。“目前的还没有一个良好的激励和竞争机制来释放文化产业的活力”。二是目前文化企业的经营能力也有欠缺，存量企业的竞争意识不足，增量企业的实力较弱，竞争能力较差。

China's culture industry started relatively late marketization,Compared with foreign culture enterprise and a lot of gap,And the capital market can effectively help Chinese excellent culture enterprise to make up the gap.ChenShaoFeng think,China's cultural enterprises and foreign cultural enterprise compared with main difference between two points.One is the degree of marketization is not enough,The free flow of market factors/Enterprise competition mechanism is not perfect enough."The present is not a good incentive and competition mechanism to release the vitality of the cultural industry".The second is the culture enterprise management ability also have lack,Stock enterprise competitive shortage,Incremental enterprise strength is weak,The competition ability is bad.

　　而资本市场不但可以为文化企业的发展提供一个市场化的发展平台，还能有效提升上市企业的竞争能力和管理能力。在资本市场的框架内，各种要素和机制也可以得到更加有效的流动，有利于文化资源的优化配置。“这应该是资本市场对于中国文化企业的最有价值的帮助。”

And the capital market can not only for the development of cultural enterprises provide a market development platform,Also can effectively improve listed enterprise competition ability and management capacity.In the capital market framework,Various factors and mechanism can also be more effective flow,To optimize the allocation of cultural resources."This should be the capital market for Chinese culture enterprise's most valuable help."

　　文化产业是一个高风险高回报的产业，正是因为这样的特点，文化企业从传统融资渠道融资的能力较弱。根据国际上的经验，一家有实力有能力的文化公司想要获得较快的发展，一是要通过资本市场募集一定的资金，二是要通过资本市场进行一些并购，这都需要以资本市场作为战略发展渠道。

Culture industry is a high risk industry high returns,It is for this characteristic,Cultural enterprise from the traditional financing channels, financing ability is weak.According to international experience,A strong ability of cultural companies want to achieve rapid development,One is to through the capital market to raise a certain amount of money,The second is through the capital market to carry on some mergers and acquisitions,This needs to capital market as a strategic development channels.

　　陈少峰表示，目前文化产业主要是利用资本市场募集资金来壮大自身，再经过一段时间，随着越来越多的文化产业公司上市，文化公司的经营和资本运作才会带来更大的影响。“到了那个时候，文化企业也会为投资者带来丰厚的回馈，文化产业也会成为资本市场的一个重要增长点，文化产业指数的意义就更大了。”

ChenShaoFeng said,At present the main cultural industry is the use of capital markets to raise funds to expand their own,Then after a period of time,With more and more of the cultural industry of the listed company,Culture company's management and capital operation will bring greater influence."By that time,Cultural enterprise will also bring the rich feedback for investors,The cultural industry will become the capital market is an important growth point,The significance of cultural industry index is bigger."

　　陈少峰：

ChenShaoFeng: