Book industry facing crisis

China's publishing industry is facing a crisis, says an article in Oriental Morning Post. The following is an excerpt.

A recent report said that seven or eight years ago, Japan began to face a crisis in its publishing industry. Is China facing the same crisis? It seems absurd to mention the topic following the presentation of the first government award to the publishing industry.

Professionals believe the biggest crisis in China's publishing industry lies in the soaring price of paper. In recent months, the price has risen by 16 to 20 percent, far surpassing the CPI index. What is more, it seems a further rise is on the cards. The direct consequence of the soaring price of paper is that most of China's publishing houses will face great pressure to survive and the price of books will go up.