HK, Macao, Taiwan first to enter mainland's wholesale publications

Firms from Hong Kong, Macao and Taiwan will be the first to enter the wholesale market of publications on the Chinese mainland in the second half of this year, said China's publishing authority in Beijing Tuesday at a press forum.

To meet the commitment China made on accessing to the World Trade Organization (WTO), the country's wholesale publications market -- including books, journals and magazines and newspapers --will open to investors from overseas in December this year.

"However, we can give the green light to qualified companies from China's two special administrative regions of Hong Kong and Macao, and Taiwan province to enter the market ahead of the schedule," said Liu Binjie, deputy director general of the State Administration of Press and Publication (SAPP), at the 2004 Beijing International Press Forum.

Since the opening of the industry's retail business to foreign investment last year, the SAPP has so far approved 11 joint ventures for retail operation of publications. The chosen investors include the German media giant Bertelsmann, but most, like Hong Kong's Tom Group, are from either Hong Kong or Taiwan.

The Chinese mainland will open its publishing distribution market by the end of 2006, according to its WTO commitment. The agreement does not concern publication production, however, which is expected to remain under control.

The two-day forum, which began Tuesday, focuses on the strategic management of press companies, international publication trade, hi-tech impact on the publishing industry and the industry's response to globalization.

Domestic and international publishing giants Pearson Plc, Hachette Filpacchi, Thomson Learning, Hachette Livre and China International Press Group Limited are attending the forum.

Source: Xinhua