Time Warner, the world's leading media and entertainment conglomerate, is eyeing China's faster market expansion after the government issued a new plan to encourage private and foreign investment in the cultural sector, a senior company executive said Friday.

The company is "particularly interested" in the plan to lower the market access threshold for the entry of private and foreign capital to the cultural fields, and "excited" to learn that multimedia broadcasting, Internet and mobile TV would be promoted actively, said Stephen J. Marcopoto, president of Turner International Asia Pacific Limited, the broadcasting division of Time Warner, at the World Media Summit (WMS).

China's reform and opening up drive enabled the world's third largest economy to form close partnerships with global industry leaders in telecommunications, automobiles, banking and retailing and consumer goods, he said.

However, access was limited for international participation in the entertainment industry, one not seeing partnerships comparable to other leading markets, said Marcopoto.

"We support moves to increase access to international content and media properties in a manner consistent with global norms and look forward to further growth and development to come in this area," he said.

He noted cooperation, collaboration and partnerships are the "formula for success" as we competed in this new age of media.

He said the entertainment arena is a "more fertile" ground for Chinese and international media companies to cultivate.

Turner's landmark expansion in China dated back to 2001 when its CETV, now a partner with the Tom Group, became the first international television channel landed in China.

Reciprocally, CCTV-9, the English channel of China Central Television, which was carried by the Time Warner cable systems, landed in major cities in the United States,

"China's global development will benefit from ties that would create a dynamic international media industry, and fully adhering to the country's broadcasting code," Marcopoto said.

The rapid digitization of China's pay TV system, and the expansion of broadcasters and the broadband penetration provide a solid foundation for such growth, he said.

He said China would become a leader in this influential industry, as it moves from a domestically oriented participant to an international industry leader.

"It will grow its own Time Warner. We at Turner want to, and will continue to be, part of that transformation," he said.

The World Media Summit, launched by Xinhua and eight other world media organizations, attracted leading wire services, radio and television broadcasters, newspapers and magazines, and online media from around the world. (Source: Xinhua, 10/9/2009)