State Radio, Film and Television Conglomerate Established

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Last updated at: (Beijing Time) Friday, December 07, 2001

State Radio, Film and Television Conglomerate Established

The state level media conglomerate was formed by all the broadcasting stations and other companies and institutions of the State Administration of Radio, Film and Television (SARFT). The group has more than 20,000 staffs and its fixed assests tops 21.4 billion yuan.

China's Largest Media Group Established

China Radio, Film and Television Group was formally established Thursday in Beijing.

The state level media conglomerate was formed by all the broadcasting stations and other companies and institutions of the State Administration of Radio, Film and Television (SARFT), namely, China Central Television, China National Radio, China Radio International, China Film Group Corporation, China Radio and Television Transmission Network Corporation Limited, China Radio and Television Website.

The group has more than 20,000 staffs and holds a total of fixed assests valued at 21.4 billion yuan.

The media giant will provide comprehensive services from braodcasting, television, film, transporting network, website, newspaper and journal publishing, film and television arts, science and technology development, and advertising and property management, with its annual revenue expected to surpass ten billion yuan.

Top Player

Liu Yunshan, executive deputy head of the Department of Publicity of the Communist Party of China (CPC) Central Committee, said at the founding ceremony that the establishment of the group marks a step forward and a new stage in radio, film and televisionin China.

He said that the new group is a national media group of great importance to the country and the Party, and should take a leadingrole in national radio, film and television.

Xu Guangchun, chairman of the Board of Management of the group, who is also deputy head of the Department of Publicity of CPC Central Committee and director of SARFT, said that the group is expected to become a media conglomerate in China, and an important part of the country's media reform.

He pointed out that the group should build itself into "a top player in China and Asia and be at the forefront world-wide"; should rationalize the structure and systems of the sector to improve competence; and should strengthen cooperation with local radio and TV stations to expand coverage.

The group should also carry out reforms on the national radio and TV networks by setting up a transmission network, to bring a nation-wide network; fully utilize hi-tech, cultivate and explore new economic growth, and expand its international market to bring the voice of China to the world.

Sector not Opened Yet

According to WTO agreements, China has not promised to open the broadcasting and television sector and therefore forbidden foreign capital into the country's radio station, television station, broadcasting and television network and movie studios.

However, the country has allowed to import 20 foreign films every year and agreed foreign fund's participatin in construction and management of cinema, introduction of foreign broadcasting and film programmes, cooperation of programme making, as well as installation of foreign satellite TV in relevant places.

By People's Daily Online

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