According to the Catalogue of Guidance for Foreign Invested Industries, Regulations on the Administration of entertainment places, foreign investors are not allowed to establish wholly foreign-owned enterprises running entertainment places; according to mainland and Hong Kong and Macao closer economic partnership arrangement, since Jan.1st, 2005, Hong Kong and Macao service providers are allowed to operate entertainment places in the form of wholly foreign-owned enterprise, contractual joint ventures or equity joint ventures.
The topic summarizes the related rules & regulations, registration requirements, procedures, accounting & tax by SMERT, SAIC, Tax Bureau and other related departments you may focus on in relation to foreign invested culture & entertainment company.