Interview with CBi founder gives CBN viewers insight into Shanghai's creative standing

Cathy made her appearance on June 24 at the invitation of CBN, which wished to give its viewers an expert's take on Shanghai's standing as a creative force on the world stage.

The Expo has given many industries and corporations a platform from which they can accelerate both their local and global development, Cathy said, although Shanghai's relatively young creative industry still faces some long-standing hurdles that will be a challenge to overcome.

Cathy went on to list three particular impediments to the industry's development. The first was the lack in expertise, particularly of high-end talent. The second was the financing difficulties, brought about by the long investment cycles, high risks and low level of fixed assets associated with the sector. Third was the plain single value channel.

However, the obstacles are not insurmountable, Cathy said, pointing to the impetus provided by the ongoing World Expo to Shanghai's creative industries, including advertising, media and design, and the Yangtze River Delta region as a whole.

Cathy's advice to local creative industries was that they should grasp leading global trends when designing and marketing successful products. She also stressed the importance of drawing on local characteristics to establish a differentiation strategy that hones in on the essence of local culture.

Another key message from Cathy's interview was that cooperation between government, enterprises and creative forces is vital in driving the local industry further.

Cathy gave the Tianzi Fang art district of Shanghai as an example of such unity that balances international and local business and art to the benefit of all. The mix at such districts and creative parks generates more energy and exposure through events such as fashion shows, parties and non-profit auctions, and attracts the attention of global brands such as Nike and Audi. The result is a win-win situation.

When it comes to the old problem of securing investment, Cathy said investment into the creative industry can be characterized as high risk, high growth and high reward. To minimize risk, investors should familiarize themselves with the industry and its related areas, including current hot topics and leading figures. In this way, they can make more sound investments, while discovering further channels to tap, as well as the unique fun offered by the creative industries.