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China Plans 45 Billion Yuan Media Expansion, Morning Post Says

By Joost Akkermans

Jan. 13 (Bloomberg) -- China’s government is preparing to spend 45 billion yuan ($6.6 billion) to expand its main media outlets abroad to help improve the country’s image, the South China Morning Post said, citing people it didn’t identify.

Central China Television, Xinhua News Agency and the People’s Daily newspaper, the country’s three most prominent media organizations, are entitled to as much as 15 billion yuan each if they come up with worthwhile projects, the Morning Post said, without elaborating.

Xinhua has a plan to expand the number of overseas bureaus to 186 from about 100 currently, according to the newspaper. Another plan is for the state-owned agency to start an Asia-based 24-hour TV station to broadcast news to an international audience.

The Ministry of Finance has set aside funds for the proposed plan, the Hong Kong newspaper reported today.

To contact the reporter on this story: Joost Akkermans in Hong Kong at jakkermans@bloomberg.net

Last Updated: January 12, 2009 19:02 EST

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