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Some 10 media groups will go public in 2009

By Bi Xiaoning and Tong Hao (chinadaily.com.cn)
Updated: 2009-03-10 12:06

About 10 newspaper groups in China are expected to go public in 2009 after completing asset reforms, and 39 more are on the pipeline, according to Liu Binjie, head of the General Administration of Press and Publication (GAPP).

"The country's publishing groups are stepping up their IPO preparations," Liu said on the sideline of the second session of the 11th National People's Congress, China Business News reported on Tuesday.

"GAPP will select the most promising media organizations and provide them with support in technology, equipment and capital," Liu said.

At present, China has 12 media organizations listed in domestic stock market, including Shanghai Xinhua Media and Chengdu B-Ray Media.

 
 
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