November 18，China Cultural Industry Investment Fund of Funds was officially established in Beijing。The fund was jointly initiated and established by the Propaganda Department of the CPC Central Committee and the Ministry of Finance，Target scale 50 billion yuan，The first phase has raised 31.7 billion yuan。The establishment of the fund is to thoroughly implement the spirit of the Fifth Plenary Session of the 19th CPC Central Committee、Important measures to promote cultural reform and development，For improving the modern cultural industry system，Perfect and put 188bet app social benefits first、A system and mechanism that unifies social and economic benefits，It is of great significance to promote the construction of a socialist cultural power。

As a national cultural industry investment fund，Mainly play an active role in implementing national cultural strategies and plans，Using government guidance funds to leverage，Attract capital investment from all parties，Through market-oriented operation、Professional management，Support the restructuring, reorganization and mergers and acquisitions of cultural enterprises，Promote the integration of cultural resources and adjustment of industrial structure，Promote high-quality development of cultural industries。The fund mainly invests in news information services、Media integration development、Core areas of 188bet online sports betting The cultural industry such as new digital cultural formats，And tourism highly related to cultural industries、Sports and other related industries，Support the development 188bet Online Sports Betting and Casino of key industries such as film；Building around the Guangdong-Hong Kong-Macao Greater Bay Area、Integrated development of the Yangtze River Delta and other major national regional development strategies，Support the coordinated development of regional cultural industries，Make it stronger, better and bigger as a cultural enterprise，Enhancing the strength and core competitiveness of the cultural industry，Promote the formation of a new pattern for the development of cultural industries。

188bet app download Source: Xinhua News Agency, original title: "China Cultural Industry Investment Fund of Funds was officially established》.