The venture, which will focus its coverage on China, Hong Kong and Taiwan, may start operations by the end of the year, according to the people, who declined to be named because the plan is confidential. Journalists are being recruited for the mainly English service, two of the people said.
Li, the 42-year-old son of Hong Kong’s richest man, is raising investments in business media after Shanghai stocks rallied the most of any major market this year. Caijing, China’s top finance publication, may gain international readers through the partnership with Li, who controls the Hong Kong Economic Journal newspaper and the Now pay-television service.
[…] Plans for the Internet news venture are at a preliminary stage and details of the business model and distribution methods haven’t been completed, said three of the people.