[November 05, 2009] China to Build a Big E-publishing Group Tweet BEIJING, Nov 05, 2009 (SinoCast Daily Business Beat via COMTEX) -- The Chinese government will make efforts to help create a big-sized e-publishing group, as part of the country's far-reaching publication industry reform, according to the General Administration of Press and Publication of China (GAPP). This company is supposed to achieve net assets and annual sales of over CNY 1 billion in three years, respectively, partly via the development and acquisition of electronic and Web publishing database resources. Besides, audiovisual and electronic publishing institutions controlled by local governments and universities in China are required to complete their corporate reform and management modernization before the end of 2009, or they will be written off. A batch of such companies are predicted to become stronger with governmental supports during the reform, but others are expected to be merged or closed, citing the GAPP's decree. In addition, the size of China's online publication shopping market reached CNY 632 million in the second quarter of 2009, jumping 17% from the previous three months, according to Cao Fei, an analyst with Analysys International, a TMT market advisor. Source: www.enet.com.cn (November 05, 2009) [ Back To TMCnet.com's Homepage ]