Off the wire
(Recast) Aust'n PM defends controversial proposed income tax changes  • Aussie dollar hits near nine-month high  • Virus affects nine River Plate players  • Aust'n government's proposed income tax changes not to affect smaller states  • Petrobras investigation judge regrets leaking Lula-Rousseff phone call  • U.S. researchers envision community-based solar systems  • Closing tax havens will create fairer global society: U.S. economist  • Urgent: Chinese president arrives in Washington for Nuclear Security Summit  • 1st LD: Chinese president arrives in Washington for Nuclear Security Summit  • Canadian PM to fly to Washington for Nuclear Security Summit  
You are here:   Home/ Government Policy

China to set up non-profit fund for private cultural relics

Xinhua, March 31, 2016 Adjust font size:

China will encourage more non-profit funds to protect cultural relics, the State Administration of Cultural Heritage (SACH) announced on Wednesday.

China has spent 60 billion yuan (9.3 billion U.S.dollars) on protecting cultural relics during the past five years, said Zhu Xiaodong, director of policy and law department of the SACH.

The money went to more than 10,000 projects but did not cover privately owned cultural items, said Zhu.

Though cultural relics held as private property are included in the government programs, a lack of proper funding has left privately owned relics basically unprotected.

Zhu said the SACH will help establish non-profit cultural heritage funds with the help of the Ministry of Finance, to channel in both state subsidies and private capital for cultural relic protection.

China's traditional villages are in most urgent need of protection, said Zhu. Among the 11,000 registered cultural relics in these 2,555 villages, 6,600 are in the possession of private owners.

With the help of non-profit funds, the SACH can encourage and stimulate private owners to take tangible action to protect their relics, Zhu said.