Newspaper Shares Ban Sets Back Liberalisation – Mure Dickie

From Financial Times:

China has barred local newspapers from publicly issuing shares following a corruption scandal last year at IPO pioneer Beijing Youth Daily, according to the sector’s top regulator.

However, the government was “encouraging” book publishing companies to list shares on stock markets in mainland China and Hong Kong, said Long Xinmin, minister at the press and publishing administration.

Beijing’s decision to ban newspaper listings, while approving them for publishing and distribution companies, reflects officials’ attempts to balance commercial development of the media sector without losing political control.[Full Text]

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