Henan: Guide various types of venture capital institutions and funds to increase funding for script creation for micro-short dramas through market-oriented approaches.

The General Office of the People's Government of Henan Province recently issued the "Henan Province's Policies and Measures to Support the High-Quality Development of the Micro Short Drama Industry". It proposes to increase financial support, including including micro short dramas in the scope of government investment fund support, organizing special roadshows for micro short dramas, guiding various venture capital institutions and funds to increase their funding for script creation, filming, production, promotion, and distribution of micro short dramas in a market-oriented manner, and reducing the financial pressure on micro short drama companies. It supports the opening of a special area for financing for micro short drama companies on the provincial financing credit service platform, explores the establishment of a risk compensation fund for financing in the micro short drama industry, and encourages various financial institutions to provide financial products tailored to micro short drama companies based on the characteristics of the industry, such as pledging enterprise copyrights, accounts receivable, income rights, and cultural and creative product authorizations as collateral. It fully leverages the role of the financing coordination mechanism for small and micro enterprises, providing interest subsidies for eligible micro short drama small and micro enterprises' start-up guarantee loans in accordance with the prescribed standards, and providing subsidies for projects recognized as provincial or municipal mass entrepreneurship support projects in accordance with the prescribed standards.