China's Media, Publishing Sector to Speed up Reforms

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Last updated at: (Beijing Time) Thursday, January 16, 2003

China's Media, Publishing Sector to Speed up Reforms

The media and publishing industry will face pressure to speed up development and reform this year,while non-State capital is set to make a significant input into this business.

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The media and publishing industry will face pressure to speed up development and reform this year,while non-State capital is set to make a significant input into this business.

At a high-level meeting of the State Press and Publication Administration Tuesday in Beijing, the administration head Shi Zongyuan reiterated that press and publication administrations at all levels should focus on market supervision according to law, leaving State enterprises more space for self development.

It also plans to expand the openings for non-State capital into the industry this year.

As foreign capital will also be gradually allowed to enter the business, the administration both encourages and supports development of non-State areas of media and publishing.

"To achieve this, more policies will be further adjusted and more regulations will be revised in the field,'' Shi said.

Last year, foreign capital was allowed to enter the country's print business.

By November 2002, the administration had approved 92 printing companies with foreign investment totalling US$55.2 million, the administration's year-end report revealed.

The administration has also been taking active steps to prepare for entry of foreign capital into the publication distribution business in the near future, in accordance with the country's World Trade Organization commitments.

In order to compete effectively against the incoming foreign giants in the industry, China's media and publishing industry has been carrying out reforms, aimed at boosting both their economic strength and human resources.

Last year, a number of new groups emerged.

According to the administration's latest statistics, the newly formed groups include three in the publishing business, three in distribution, one magazine and 13 newspapers, taking the total number around the country, so far, to 55. (China Daily news)

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