Core Insights - The article emphasizes the significant impact of the global political and economic environment on cultural trade, highlighting the need for China to enhance its international competitiveness in cultural trade and to develop digital cultural trade as outlined in the "14th Five-Year Plan" [1] Group 1: Cultural Trade Overview - In 2023, China's total cultural product import and export volume reached $166.36 billion, with digital cultural new formats like online dramas, online literature, and online games showing an upward trend [1] - Traditional cultural trade is facing challenges, with traditional cultural product exports declining by 9.3% to $148.40 billion, while imports increased by 9.4% to $17.37 billion, resulting in a reduced trade surplus of $131.03 billion [2] Group 2: Market Dynamics - China's cultural exports are heavily reliant on the US, Europe, and Japan, which have seen a contribution decline of 8.7% over the past five years, while emerging markets in Southeast Asia and the Middle East are becoming increasingly important for future growth [3] - The digital cultural new formats are experiencing explosive growth, with 16 digital technology-driven cultural industries achieving revenue of $5.91 trillion in 2024, a year-on-year increase of 9.8% [4] Group 3: Digital Cultural Growth - The overseas revenue from online literature reached $4.35 billion in 2023, growing by 7.06%, with North America accounting for 38% of total revenue [4] - The overseas sales revenue of self-developed online games exceeded $18.56 billion in 2024, marking a 13.39% increase, with a broad player base across various regions [5] Group 4: Cultural Services Trade - The government is actively promoting the development of cultural services trade, with a focus on enhancing competitiveness through policy measures and international cooperation, particularly with Belt and Road Initiative countries [6] - Cultural services trade is transitioning from traditional sectors to knowledge-intensive areas, with personal cultural and entertainment services exports growing by 39.3% in 2024 [6] Group 5: Challenges in Cultural Trade - The traditional cultural industry is slow to transform, leading to an imbalanced import-export structure characterized by high-end imports and low-end exports [7] - Local adaptation capabilities are lacking, and compliance issues are becoming more prominent, increasing operational costs for companies [8] - There is insufficient collaboration within the industry, leading to inefficiencies, particularly in the translation processes for online literature [9] Group 6: Strategic Recommendations - Recommendations include upgrading traditional industries through technology, establishing a global certification system, and enhancing talent development in digital cultural industries [10] - A "technology + rules" digital trade model is suggested to support core technology development in new formats and to ensure compliance with international regulations [11] - Financial support mechanisms are proposed to mitigate risks associated with cultural trade, including the establishment of a cultural export insurance pool [11]