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Taiwan’s Ministry of Culture welcomes investment from China

National Development Fund to hand NT$6 billion to creative content project

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Culture Minister Cheng Li-chiun (fifth from right) at the presentation of the creative content project.

Culture Minister Cheng Li-chiun (fifth from right) at the presentation of the creative content project. (CNA photo)

TAIPEI (Taiwan News) – The Ministry of Culture said Wednesday it welcomed investment from China in its NT$6 billion (US$205 million) cultural content project, but the money would have to be spent on Taiwanese stories.

The ministry announced it had secured the money from the National Development Fund to support the development of local artists and creatives inside Taiwan, the Central News Agency reported.

The new program amounted to an upgrading of a 2011 government plan which would allow to attract more interest and featured interdepartmental cooperation in order to let more of the world hear and see Taiwan’s stories, said Culture Minister Cheng Li-chiun (鄭麗君).

At Wednesday’s news conference, she encouraged potential investors to spend money on the creation of content in sectors such as audiovisual works, publications, comics, games and anime, CNA reported.

Foreign investors were also welcome, including Chinese individuals and companies, according to a report by the United Daily News. as long as they invested in Taiwanese stories and respected legislation governing relations between the two sides of the Taiwan Straits as well as rules set up by the Investment Commission.

Details of investment regulations for the creative content project would be announced later this month, the United Daily News wrote. A special investment evaluation committee will judge which projects to select and support.

In addition to the NT$6 billion from the National Development Fund, the project is also receiving NT$4.18 billion (US$143 million) from the government’s Forward-looking Infrastructure Development Plan.