April 24 saw the "Xinhua Publication & Logistic Co. Ltd." consisting of the main store of Xinhua Bookstore, some publications and other investment companies, a total of 11 units announcing its inauguration. This indicates that the Xinhua Bookstore after going through a vicissitude of 60 years and an influential one has now turned into a multi-shareholding company from a unit of single ownership. It is a historical breakthrough for the reform of book, publication and distribution system in China.

The newly-founded Xinhua Publication & Logistic Co. Ltd. consists of the main-store of Xinhua Bookstore, Beijing Boheng Investment Co. Ltd., Beijing Purple Forbidden City Investment Co. Ltd., British XXX Investment Co. Ltd and China Cartography Publishing House as well as Jieli Publishing House, a total of 11 units engaged in publication businesses. It is a publication company with over 1 million registered capitals and the first of its kind in China. With its capital jointly pooled in by investors domestic and foreign, it is a nationwide enterprise composed of publishing and distribution organizations and specially engaged in publishing and distribution businesses, which is also a large company of modern system at the central level that is engaged in book, audio-visual and electronic publications and logistic businesses. The company sees a registered capital of RMB 300 million-yuan, of which that put in by the Xinhua Bookstore is RMB 120 million-yuan, accounting for 40 percent at the place of a relatively holding company.

Expert is of opinion that with the state-owned Xinhua Bookstore to be the holding company, drawing in foreign capital and domestic capital of civilians, the structure of the company shares embodies a mixed ownership matrix of the state-owned capital of the Xinhua Bookstore, foreign and civilian capitals. With the publishing organization to participate in the business it will help strengthen the mergence of resources and complementation of superiorities in the upper, middle and lower links along the publication industry chain.

By People's Daily Online