Website of People's Daily gets share-held, new CEO

09:59, June 21, 2010      

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People's Daily Online Co Ltd was officially launched on Sunday, incorporating operations of and placing the cyber giant on the road to get publicly listed on the stock market later.

Ma Li (C), deputy editor-in-chief of The People's Daily; Nie Zhenning (R3), president of the China Publishing Group; Han Xiaoli (L3), president of China Film Group Corporation; Li Ruigang (R2), the president of Shanghai Media Group; Hu Xijin (L2), editor-in-chief of the Global Times; Wu Haimin (R1), president of Beijing Times, Li Qingwen (L1), president of China Auto News attended the founding ceremony in Beijing, June 20.

Mr. Liu Yunshan, a member of the China's Communist Party's Central Committee's Politburo and minister of the CPC's central publicity department, lauded the new corporation's establishment, saying that it will provide online readers with more colorful contents and quality services in 'satisfying people's rising demand for online news, searches, interactions and recreational cultural services.'

Zhang Yannong, president of The People's Daily, said that he hoped the new company will make use of the most advanced information technologies, and better 'the Party and the people'.

Liao Hong, the new chairman and chief executive officer of the corporation, said at the founding ceremony on Sunday that he will try to get the website listed on the A-share market in China, making a bold foray into the capital market. The website, affiliated to the People's Daily, is one of the country's leading government-run portals.

Ma Li, a deputy editor-in-chief of The People's Daily, was made president of the board of directors. Also sitting on the board are Liao Hong, Hui Zhangzhi, Hu Xijin, Guan Jianwen, Luo Hua, Tang Weihong and Chen Zhixia, who also serves as secretary of the board. Huang Qixiang was elected as the chairman of the company's supervising committee.

Zhang Yannong (R2), president of The People's Daily; Wu Hengquan (L2), editor-in-chief of The People's Daily; Cai Mingzhao (R1), vice minister of CPC's Publicity Department; Qian Xiaoqian (L1); vice minister of the State Council Information Office jointly launched a new search engine, www. in Beijing, June 20.

Also on Sunday, the company launched , a news search engine, which will be another effort by the company to expand its business scope and consolidate its market foundations.

The shareholders of the new company consist of the People's Daily, the Global Times, The Beijing Times, China Automotive Journal, China General Publication Group Corporation, China Film Group Corporation and Shanghai Dongfang Media Group.

According to Liao Hong, the website will focus on extending providing information and multimedia quality contents and services, while making inroads into new business fields including searching, wireless phone and television publications, tailored information and database services.

It is learned the website has been profitable in the past five years, and have gained increasing clout among China's online readers.

By People's Daily Online
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