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State to Restructure Publishing Houses for Overseas Expansion

The General Administration of Press and Publication will consolidate and re-structure publishing houses to establish brand name flagships for overseas expansion. The government will provide preferential treatment to the selected publishing houses with important projects, resources and initial public offering preferences. The restructuring will  start first in publishing houses in the areas of social sciences, education and technology. Cross-industry mergers and acquisitions are also encouraged. Through mid to long-term plans, the government will build export oriented priority publishing houses and promote “going out” via mergers and acquisitions and joint ventures with foreign entities.

Source: Xinhua, July 19, 2010