Former Caijing editor Hu Shuli is adding a new publication to her nascent media empire - a monthly magazine linked to the National Development and Reform Commission, the mainland's top planning body. Hu will take over as managing chief editor of China Reform, a monthly focusing on policy analysis and commentary. It is published by Beijing-based China Economic Reform Magazines, owned by a subordinate organisation of the NDRC. Three former Caijing editors, Yang Daming, Wang Shuo and Ye Weiqiang, were assigned to work at China Reform. Yuan Xucheng , the president of the magazine group, will remain in his position as editor-in-chief. A Beijing journalist close to the negotiations said Hu met with Yuan and other senior officials from the group yesterday afternoon in Beijing. He said Zhejiang Daily Press Group, which is believed to be a major backer of Caixin Media, Hu's multimedia platform, would invest 20 million yuan (HK$22.72 million) in the new magazine, while Yuan would provide the publication serial number and Hu and her team would contribute to daily operations. China Reform is the second magazine Hu's team has taken over. She teamed up with Hainan's China Institute for Reform and Development in late December to jointly launch a current affairs weekly, News Magazine, early this month. Hu and Yang were also appointed chief editor and deputy editor of News Magazine, less than two months after Hu's high-profile departure from Caijing, the respected business magazine she headed for 12 years, along with the bulk of her editorial staff. A Caixin editorial employee said the team would deal with the two magazines at the same time. The Beijing reporter said the deal with China Reform worked well for both sides, since Hu was seeking to add to her stable of publications and Yuan needed professional journalists for the loss-making magazine. China Reform has less than a dozen staff and a circulation of about 3,000. All publications on the mainland require a serial number, which can only be gained through the General Administration of Press and Publication. The process is slow and difficult - striking a deal with an existing publication is far quicker.
