Xinhua sets up finance media group to boost influence, Sina says
[BEIJING] China's state-run Xinhua News Agency is to set up a business news media group, an effort to increase influence in the financial information industry, Sina.com.cn reported citing the news outlet.
Xinhua will "consolidate resources" at China Securities Journal, Shanghai Securities News, Economic Information Daily and a publishing house, and establish a "wealth media group," according to Sina.com.cn on Wednesday.
The opening ceremony of the new company will be Jan 19, a day before Donald Trump's inauguration.
"The aim is to implement the central leadership's plan to deepen the reform of the cultural system, and improve mainstream media's impact in the area of financial information," according to a screen shot of the statement posted by Sina.com.cn.
President Xi Jinping has often stressed that Chinese media must serve the interests of the ruling Communist Party. In July, China's top internet regulator ordered major online companies including Sina Corp and Tencent Holdings to stop original news reporting, part of an effort to tighten the government's grip over the country's online and information industries.
BLOOMBERG
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Swiss watch exports plunge as China and Hong Kong demand dries up
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO
Billionaires selling cheap stuff get richer from inflation pain
Amazon to push cashierless shopping tech into more third-party stores, while backing off itself
Japan’s Uniqlo opens Rome store as part of European expansion
Abbott beats quarterly profit estimates on strong medical device sales