Bertelsmann to publish in China

| May 24, 2005 | 0 Comments
Bertelsmann to publish in China

Bertelsmann, the media and publishing group, has announced that it has entered into a joint venture with Liaoning Publishing Group in China.

The purpose of the venture is to distribute books to retailers around China.

Initially, the venture will focus on the distribution of Chinese-language books, but it may eventually enter into the distribution of English-language books as well.

The venture, Liaoning Bertelsmann Book Distribution, is to be based in the northeastern city of Shenyang, is worth Rmb30 million ($3.6 million).

The Chinese group will control 51 percent of the new company.

Bertelsmann is already involved in other Chinese book companies, including a partnership with China Science and Technology Book company and a joint venture with Beijing 21st Century Book Chain, a national private book retailer.

The state retains tight control of publishing in China, but the opening of wholesale and retail book, newspaper, and periodical distribution to foreign investors was announced by the government last year.

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