Moves afoot to list China media outlets on stock exchange
Move to go public seen as part of Communist Party's goal to lift its global cultural image
Beijing is honing an ambitious strategy that will clear a path for the media industry to list on the stock market.
The new round of reforms to overhaul the propaganda machine is likely to spawn dozens of initial public offerings by media outlets and publishing companies in line with the Communist Party's goal of boosting the culture industry.
Liu Binjie, director of the General Administration of Press and Publication, which regulates the print media, including newspapers, books and periodicals, told a government work conference last month that Beijing would set up a national conglomerate to own and manage the major state-controlled news organisations and publishing houses as part of an effort to encourage more media companies to go public.
Liu didn't disclose a timetable, but it is thought that serious steps will be taken after the close of the 18th National Party Congress next month .
"The publishing and media companies should be given free play in their business activities," Liu said. "Eligible publishing and media firms should accelerate their pace for listings."
The establishment of a national-level publication empire to oversee the major state-owned organisations would help them restructure to meet the listing requirements, Liu said.
