Performing arts groups bail out Li Yongde: up to 6 million, up to 5 years | Ministry of Culture | Epoch Times

[Epoch Times, June 30, 2021](Epoch Times reporter Xu Cuiling reported from Taipei, Taiwan) The Ministry of Culture’s performance group relief loan project was launched on July 1. Culture Minister Li Yongde said on the 30th that the main purpose of the loan is to maintain operations. And to provide all performing arts group turnover costs to engage in research and development, development of new themes or drama, music, etc. The loan amount is up to 6 million yuan, and the term is up to 5 years and the grace period is up to 1 year.

Li Yongde said that many arts and cultural groups reported that most of the loans in the bailout 4.0 need to be eligible for application in the form of a company organization. However, many performing arts groups may register as foundations or performance teams, and there is no way to obtain bank loans. The Ministry of Culture accepts After being reflected, after discussion, a project for relief loans for performing arts groups was launched.

The Ministry of Culture stated that the scope of the loan covers the funds needed by groups affected by the epidemic to maintain operations and research and development, including personnel, business, rent, administration and other funds. The loan amount is up to 6 million yuan and the term is up to 5 years (including the longest grace period). 1 year), the loan interest rate is based on the post office’s two-year fixed deposit mobile interest rate (currently 0.845%), plus the underwriting financial institution (not more than 1%). The current highest loan interest rate is 1.845%.

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The Ministry of Culture mentioned that the biggest feature of this loan is that the government provides a 10% credit guarantee and a full interest subsidy for up to 1 year. The bank service fees and guarantee period handling fees required for the application are also fully borne by the Ministry of Culture; At the same time, the Cultural Policy Institute will conduct a qualification review and plan a “green channel”, looking forward to assisting performing arts groups to obtain rapid loan approval and sufficient financial support. The loan application period is from July 1 to January 31, 111.

Foundations and public welfare corporations engaged in the production and performance of music, dance, traditional opera, modern drama, visual arts and video arts, or registered dance troupes, choirs, and theater troupes can apply. Li Yongde pointed out that the current cooperative bank is the Bank of Taiwan and the cooperative treasury, and the bank only conducts credit investigations on the parts approved by the Cultural Policy Institute. Because there are interest subsidies, employers cannot implement work cuts, salary cuts, layoffs, etc., and relevant subsidies will be recovered if they violate them.

Li Yongde said that it is estimated that the impact of the epidemic on the arts and cultural industry this year will reach 8-10 billion. Relief is currently being carried out actively and quickly. Guidelines and plans have been formulated for the release of the ban after the epidemic, including when to release the ban, and a minor release. At present, a plan for future relief and revitalization of the epidemic is being envisioned.

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Ding Xiaojing, chairman of the Wenci Institute, said that there are estimated to be more than 6,000 eligible performing arts groups registered for loans. Regarding the revitalization plan, she said that the assist mechanism will be promoted in the second half of this year for the development of physical performances such as theater and music, and it is expected to be announced soon. The animation development plan has been announced in June, and there are successive development plans for theaters, concerts and commercial performances. In addition, now is a good opportunity for digital transformation. We encourage everyone to realize diversification. They have good stories and IP in their hands. In the early stage of development, in addition to physical entities, they also think about various online monetization models.

Editor in charge: Lu Meiqi

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