GAPP: Foreign investment in China’s print media allowed; China to improve “go out” strategy
http://www.chinanews.com.cn/cul/2010/08-25/2491450.shtml
Headline: GAPP Director: focus on publishing industry’s investment and financing system reform
At the Hong Kong Journalists Association, the Director of China’s State Administration of Press and Publication, Liu Binjie, stated that the reform of the publishing industry’s investment and financing system is an important task at the moment. Currently, there are 41 domestic listed media companies (books, newspaper, Internet etc.) with a total market capitalization of 290 billion RMB. Private capital is to be further introduced, and foreign companies are to be given opportunities to participate.
(Note: This article in “The Times of India” provides more detail, stating that investment by foreign companies in newspapers and magazines will only be allowed in business operation functions, they may not interfere with editorial policy.)
Concerning the news and publishing industry’s “go out” strategy, Li Binjie said that there have been successes, but in general far from ideal. A series of measures is necessary for the next step:
- strengthening China news’ communication capacities,
- relying on major media entities to strengthen China’s international communication capacity,
- strengthening cooperation with international multinational media groups and enterprises with various types of cooperation,
- spreading Chinese culture by means of international news channels,
- stepping up international training of the personnel,
- building an international team of news professionals,
- conquering the reader with content,
- participating in international research, fairs , exhibitions, etc.
He also mentioned that the State supports investment abroad by all kinds of media (“传播”) enterprises in order to set up a global communication system within a few years.
Concerning policy, support will also be given to improved communication channels, improved satellite transmission ability, news talent training school, etc. Fiscal and taxation policies will also support enterprises investing abroad.
Tags: China News
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