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Road-map for private capital in publishing
By Zhao Chunzhe (chinadaily.com.cn)
Updated: 2010-01-05 17:30
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Non-public capital will be permitted for publishing fields like science and technology, finance, text books, music and arts and children's books as content suppliers or partners, according to a policy document published by the General Administration of Press and Publication (GAPP) and cited by the China Securities Journal.
China previously only allowed limited private investment in the publishing industry. With the new policy document, China for the first time explained in detail how private funds could go to the sector.
Domestic publication companies will also be encouraged to invest abroad by setting up branches overseas, takeovers or working as partners. The central government will provide supports in policy, resources, information and other services, the policy document added.
It also encourages publishing companies to finance themselves by issuing corporate bonds, absorbing foreign investments and going public.
