Official news websites prepare for IPOs in Shanghai

Updated: 2011-10-24 16:36


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China's State-owned news websites may prepare to launch initial public offerings on the Shanghai Stock Exchange after getting regulatory approval for listing last week, the South China Morning Post reported on Monday.

Measures to rejuvenate the mainland's cultural system were at the top of the agenda of the meeting of the Central Committee of the Communist Party in Beijing and the China Securities Regulatory Commission (CSRC) will support listings of cultural firms, the newspaper said citing CSRC Chairman Shang Fulin.

Industry observers see the likelihood of the People's Daily, Xinhua news agency and China Central Television Station being among the first to seek a listing, the paper said.