Capital, Policy, and Place: A Study of Cultural Space in Beijing 798

Purpose - The main objective of this study was to investigate how Beijing’s cultural space is formed. What are the influences on the development of Beijing’s cultural space, and why are these influences created? How do policies and capital intervene in the development of the 798 Art Park? How does the 798 Art Zone, which depends on interest and weak capital, maintain a balance between art and profitability under strong capital and policy interventions? Design/Methodology/Approach - Since the development of Beijing’s cultural space for more than 30 years, under the joint action of policy guidance, economic capital, and local space, cultural spaces have gradually been endowed with meanings such as enhancing Beijing’s cultural soft power and transforming and upgrading the cultural industry from the initial spontaneous aggregation, which has provided new propositions for the study of the cultural industry. Findings - The results summarize the logical relationship between the formation and development of Beijing’s cultural space. This study argues that the main purpose of cultural space is to provide artists with a legitimate gathering space and a place for creation and that the transformation of cultural space due to the demands of capital on artists has led to changes in cultural space. Research Implications - By studying the above issues, the logic of the development of Beijing’s cultural space is clarified, providing a reference for the sustainable development of Beijing’s cultural space.