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Foreign investors encouraged to entering media
(CRIENGLISH.com)
Updated: 2004-11-18 15:26

China's media regulator says foreign investors can buy a stake in China's media companies but stresses that the Chinese companies must hold a majority 51 percent of the joint venture.

The State Administration of Radio, Television and Film published a regulation on Wednesday to encourage setting up joint-ventures, by reducing the threshold for foreign media companies to enter State-owned media groups.

Earlier, global media giant Viacom announced its joint-venture plan with Shanghai's Wenguan News Group, as an important signal for policy liberalization in the media sector.

The joint ventures must produce two third of their programming on Chinese themes.

Analysts say the move will promote the development of China's cultural industry and internationalization of Chinese television and film makers.

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