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Pingtan inks $4.9b cultural complex deal

( chinadaily.com.cn )

Updated: 2014-09-22

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A gigantic complex featuring marine culture will be erected in the Pingtan Comprehensive Pilot Zone in Fujian province, according to a local newspaper on Sept 3.

Pingtan inks $4.9b cultural complex deal

A computer rendering of the large-scale cultural complex that will be built in Pingtan, Fujian province. [Photo/pingtan.gov.cn]

The project, with an investment of 3 billion yuan ($4.9 billion), will be built by State-owned China Cultural Media Group. Taking up an area of 176 mu (12 hectares), the complex will consist of four parts – an art performance center, an exposition center for artware, a headquarters center and residential zones for artists.

Land acquisition is being carried out. Construction is slated to kick off after that.

The deal was struck in March 2013 when the group agreed to attract some big cultural enterprises to settle into Pingtan in a bid to help with the region’s cultural construction.

Based on the agreements, Pingtan and the group will complement each other and carry out cooperation in public cultural service system construction, cultural heritage preservation and cultural industry development. The project will transform Pingtan into a base of cross-Straits cultural communication and industrial growth, as well as a hub for art.