On October 25, the 5th Beijing Culture and Tourism Key Project Investment and Financing Matchmaking Conference, hosted by the Beijing Municipal Bureau of Culture and Tourism, was successfully held, extending an invitation to all sectors for investment cooperation. As an important supporting event of the city's Tourism Development Conference, the matchmaking conference aimed to focus on new directions in the culture and tourism industry and innovative investment ideas, align with the trend of cultural and tourism technology integration, and stimulate creativity and innovation within the industry. This dynamic approach is set to amplify the comprehensive economic ripple effect of the cultural tourism industry, known as "one sector flourishing, all sectors benefiting." The event gathered over 240 participants, including representatives from culture and tourism departments across 16 districts in Beijing, investment and financial institutions, culture and tourism enterprises, project units, and media outlets.
Sincere and robust: Showcasing Beijing's substantial cultural and tourism assets
"The cultural and tourism investment and financing projects released this year represent the most treasured, core, and standout resources from each district," said Ai Yingying, Deputy General Manager of the Changping District Cultural Tourism Development Group. Words like "innovative," "core resources," and "expansive cooperation opportunities" were frequently mentioned by guests attending this year's Culture and Tourism Investment and Financing Matchmaking Conference.
This conference showcased a collection of 50 innovative, exemplary, and leading investment projects and 20 successfully implemented projects, covering ten key areas: innovative applications in cultural and tourism technology, green eco-tourism, creative cultural-commerce-tourism-sports spaces, rebranding of tourism destinations, cultural tourism towns and wellness resorts, boutique hotels and rural guesthouses, cultural creative tourism, science education bases, tourism support services, and dual-use tourism facilities adaptable for emergency situations.
Beijing Universal Resort, Jingcai Lantern Festival, Chaoyang Park Weibo IN Cross-Dimensional Gravitational Field, Liangma River International Style Waterfront, "Wenli" Cultural and Commercial Complex, Chaoyang UIC - Urban Vitality Innovation Center, Tongzhou Pinnacle International Family Theme Park, and other newly constructed projects represent the most international and "CITY"-oriented trends in Beijing in recent years, becoming the "flagship projects" of Beijing's cultural tourism initiatives that promote the construction of a national cultural center and an international consumption center city.
The Beijing South Tourism Resort, HTC Immersive Digital VR Cultural Experience, Gubei Water Town "Focal Point Project," comprehensive renovation and enhancement of the "World Famous Mountains" Xiangshan area, upgrades to the Juyongguan Great Wall scenic area, leisure spaces along the Tongzhou Grand Canal urban waterfront, and regular carnivals, along with 50 key projects requiring financing cooperation, are estimated to have a total investment of approximately 67.3 billion yuan. These projects feature prominent themes and distinctive characteristics, aligning with the high-quality development needs of Beijing's cultural and tourism industry. Their implementation will continuously inject new vitality into Beijing's cultural and tourism sector.
"Beijing will not simply rest on the 'rich mines' of being an internationally renowned tourist destination, but will instead embrace a more open and proactive attitude. It aims to create a world-class business environment that is market-oriented, law-based, and internationally focused, welcoming global capital with open arms. The city will continue to make efforts in innovating and advancing investment and financing work in the industry, consistently promoting the quality and efficiency of the cultural and tourism sector," stated a relevant official from the Beijing Municipal Bureau of Culture and Tourism.
Innovation and creativity: Transforming "traffic" into "retention"
How can Beijing's cultural and tourism "traffic" truly convert into "retention," encouraging visitors to stay longer and return again?
First and foremost is innovation and creativity. Among the 70 key projects introduced at this matchmaking conference, 34 projects related to cultural and tourism technology application scenarios, cultural creative tourism, and those featuring creative space characteristics account for nearly 50%. Projects such as the immersive digital VR experience exhibitions "Horizon of Khufu" and "Look at Me on the Central Axis," the Beijing Yiyun Digital Art Center (Wangfujing), the ShijingshanShougang Park cultural tourism technology new scene project cluster, and the 2024 Beijing Tiangqiao Musical Theater Annual Festival integrate various innovative elements, including immersive cultural tourism experience scenarios, new spaces for cultural consumption, and regional cultural brand development. These projects embody Beijing's desire and expectation for continuous growth and breakthrough in the cultural and tourism sector.
HTC VIVE's Special Assistant to the Chairman and Public Affairs Manager for China, Ma Fang, stated, "With the FOCUS 3 headset and the industry-leading large space solution LBSS, HTC VIVE has collaborated with global partners to launch VR experience exhibitions featuring international theme IPs like the Pyramid of Khufu and Notre-Dame Cathedral in multiple cities. In the future, HTC will focus on developing culturally rooted IPs specific to China, allowing more consumers the opportunity to experience exhibitions that combine our traditional culture with innovative technology."
Next is "symbiosis of the old and new." Taking the Daguan Building Cinema, located in QianmenDashilan, as an example, this cinema was established during the late Qing Dynasty and is regarded as the "birthplace of Chinese cinema." The current collaboration aims to renovate and enhance the Daguan Building, introducing cultural creativity and tourism technology experiences related to the film industry to create a benchmark for the transformation and upgrading of traditional cinemas. Similar projects that have garnered market attention include the protection and revitalization of the old city area around the Bell and Drum Towers on the Central Axis of Beijing, the Sinopec oil depot urban cultural leisure reception hall in Shunyi, the renovation of the 2000-year-old industrial cultural and creative district in FengtaiNanyuan, as well as the well-known "Beijing Fang" Phase II and Longfu Temple Block Phase II projects.
"In a land where every inch is precious, how to utilize old factories and industrial parks for transformation is not only crucial for fulfilling the important mission of positioning the capital city but also focuses on how we face history and treat the paths the city has traversed," stated Yan Mingdan, Deputy General Manager and Party Secretary of Beijing 798 Cultural Technology Co., Ltd.
Additionally, Pinggu District is taking the lead by launching projects such as the Jinhai Lake "Dual-use" Cultural, Commercial, and Tourism Complex and the "LeheYuncun" rural healing and wellness space, accelerating the creation of a national pilot area for "dual-use" development.
Industry insights suggest that the high-quality development of cultural and tourism sectors holds promising prospects for the future.
Wei Pengju, Dean of the Institute of Cultural Economy at Central University of Finance and Economics, shared insights on new ideas, models, and pathways for investment in the cultural and tourism sectors. He noted that these industries are seizing new digital, green, and integrative development opportunities. The focus of cultural tourism investments is shifting from purely economic goals toward multi-dimensional objectives that emphasize social, ecological, and cultural value. Meanwhile, investments are leaning toward smart tourism and digital tourism projects, transitioning from primarily new constructions to revitalizing and repurposing existing assets.
Li Xinjian, Executive Dean of the Capital Institute of Cultural and Tourism Development at Beijing International Studies University, emphasized that achieving high-quality development in cultural tourism involves a shift from exploiting exclusive resources to developing innovative products. This approach requires prioritizing low-infrastructure-dependent formats and lightweight investment projects. He argues that digital transformation in culture should not be limited to mere digitalization. Instead, robust efforts must be directed toward using digital and intelligent technologies to cultivate new cultural forms and industry models, driving cultural tourism's evolution into a dynamic and future-oriented sector.
Strong alliance to build a large ecosystem of cultural tourism industry
Recent investment and financing reports from various organizations show that China's cultural and tourism industries are steadily advancing toward high-quality development, with increasing investor confidence across the sector. This momentum aligns seamlessly with the enthusiastic atmosphere witnessed at the recent matchmaking event, where industry players actively engaged, reflecting an optimistic outlook for future growth in cultural tourism.
A total of over 120 representatives from key cultural and tourism enterprises, including China Tourism Group, China Cultural Industry Development Group, Beijing Performance Group, Huazhu Group, CYTS Holdings, and Pujiang China, attended the matchmaking event. Also present were emerging players in niche fields, such as MahuaFunAge, Nine Dimension Culture, Fanxing Drama Village, HengxinDongfang, BOE Technology, and HTC VIVE.
Industrial and Commercial Bank of China (ICBC) Beijing Branch and Agricultural Bank of China (ABC) Beijing Branch each presented their innovative financial products to support the cultural tourism industry. ICBC focused on comprehensive financing services for cultural tourism, while ABC discussed its integration of "agriculture, culture, and tourism" to promote industry growth.
Five projects signed investment intention agreements totaling approximately 1.47 billion yuan, including the PingguJinhai Lake "dual-use" wellness resort, the Boundaryless Digital Art Center's immersive VR exhibition of Notre Dame at 798, the Sinopec Shunyi Oil Depot urban cultural lounge, the Shaocheng Times Asia Music Awards, and the China Agricultural Film and Television Center's rural revitalization film projects.
Several institutions noted, "In recent years, due to the impact of the pandemic, collaboration models mainly focused on asset-light outputs. With the recovery and rapid development of the cultural tourism market, companies are gradually restoring their investment strategies. Among the areas of primary focus remain top-tier cities like Beijing, Shanghai, Guangzhou, and Shenzhen, as well as emerging first-tier cities."
Amid the growing trend of fostering a comprehensive cultural tourism ecosystem, the Beijing Cultural Tourism Resource Trading Platform held a strategic cooperation signing ceremony with the Beijing Association of Culture and Tourism, Beijing Animation and Game Industry Association, Beijing Performance and Entertainment Industry Association, and Beijing Network Culture Association during the event. Going forward, these five parties will leverage their resource advantages to promote the co-construction and sharing of resources within the cultural tourism industry.
Innovation and upgrading, continuous optimisation of the industrial investment and financing system
In recent years, the Beijing Municipal Bureau of Culture and Tourism has resolutely implemented the decisions and plans of the municipal party committee and government, employing a "combination of measures" to drive innovation in building the industry's investment and financing systems.
In 2024, the Beijing Municipal Bureau of Culture and Tourism signed a strategic cooperation agreement with China's four major banks—Industrial and Commercial Bank of China (ICBC), Agricultural Bank of China (ABC), China Construction Bank (CCB), Bank of China (BOC)—and Beijing Bank, launching a financing plan worth hundreds of billions. This initiative will provide 150 billion yuan in intended credit support to Beijing's cultural tourism enterprises over the next five years. The agreement also aims to optimize and enhance the Cultural Tourism Resource Trading Platform, tourism financing guarantee mechanisms, and policy-based insurance services. The Beijing Cultural Tourism Resource Trading Platform has so far listed 2,862 projects, with 474 completed transactions totaling 45.3 billion yuan. The tourism financing guarantee platform has supported 3,203 tourism projects with loans of 4.61 billion yuan, while the suburban tourism policy-based insurance system has provided 18.754 billion yuan in risk protection for 26,191 tourism business operations.
As an important platform for investment and financing cooperation in the city's cultural and tourism industries, the Beijing Cultural and Tourism Key Project Investment and Financing Matchmaking Conference has been held for five consecutive years, introducing a total of 213 key cultural and tourism projects. It has become a signature event for Beijing, effectively expanding investment in the cultural and tourism sectors.
