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Five Chinese state-owned media holdings unite into one media group

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Five Chinese state-owned media holdings unite into one media group

Five largest Chinese state-owned media companies have been united into a new financial media group, which will cover financial news in the country and the world.


As thepaper.cn reports with the reference to Xinhua news agency, the State Council ratified a deal on acquisitions of four country’s major financial editions by Xinhua. Among them there is China Securities Journal, Shanghai Securities News, Economic Information Daily and Xinhua Publishing House.

The new media group was named Fortune Media Corporation Group. It will start operation since the 19th of January 2017.

As it was noted, this measure was aimed at deepening a structural reform carried out by the authorities in the field of culture and education, as well as at enhancing influence of the key media outlets of the country in the area of financial information.

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