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China welcomes foreign investment in publishing

(chinadaily.com.cn)
Updated: 2009-10-15 17:21

Foreign publishing groups are welcome to invest in the Chinese publication industry, China's General Administration of Press and Publication minister, Liu Binjie, said at the Frankford book fair on Thursday, the People's Daily reported.

As of the end of 2008, the Chinese government has approved over 2,500 joint ventures and foreign-invested companies in the country's print industry.

China has also started experiments to cooperate with foreign companies on book publishing, and on newspaper and magazine production, in part because domestic publishers are being corporatized and need more capital and business expertise.