China Asks Publishing Groups to Compete Globally, Xinhua Says

China wants its media and publishing groups to compete globally by reforming operations, promoting their products overseas and buying equity stakes in businesses, according to the official Xinhua News Agency.

Regulators will help the country’s leading publishers to enter the global market and “expand the influence of Chinese culture,” Xinhua reported yesterday, citing Jiang Jianguo, deputy director of the General Administration of Press and Publication. Chinese media companies should “participate in global competition by setting up branches and publications overseas through share-buying and other methods,” Jiang said.

Chinese state media have been boosting overseas operations, particularly in the U.S. State-owned China Central Television set up a new English-language channel known as CCTV America last year which airs on cable and satellite and operates from its base in Washington, D.C. The channel seeks to “project China and more closely connect Asia and America,” according to its website.

Xinhua itself began an English-language edition in North America in 2010 and announced a year later the opening of its U.S. headquarters in Times Square, New York. The number of Chinese reporters working overseas is also growing. The U.S. issued 868 visas to Chinese journalists in 2011, up from 616 the prior year, according to the U.S. Department of State.

To contact Bloomberg News staff for this story: Aipeng Soo in Beijing at asoo4@bloomberg.net

To contact the editor responsible for this story: Paul Tighe at ptighe@bloomberg.net

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