China Business

Feb 18, 2006

Foreign capital becoming important in publishing

BEIJING - Thanks to the opening-up of the publishing and wholesale publications sector, private and foreign investment has become an important part of China's publishing industry, according to a report on the development of China's publishing industry in 2004 and 2005.

The recently issued report said by the end of 2004, there were 14 private or shareholding publishing firms in the country for general

distribution of publications, including some bookstores introducing overseas capital.

According to the report, approved by the Press and Publication Administration, eight domestic magazine publishers conducted cooperation on copyrights with foreign partners, and 55 domestic printing enterprises introduced a total foreign investment of US$133 million in 2004.

The administration also gave the green light to the establishment of 11 foreign-funded distributing firms involving books, newspapers, and periodicals.

(Asia Pulse/XIC)

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