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China is to open its wholesale market of books, newspapers and periodicals to overseas investors by the end of this year, said China's publication official in Beijing Wednesday.
By the end of 2004, overseas businessmen will be allowed to form both wholesales and retail enterprises pertaining to book, newspaper and periodical market, including Sino-overseas joint ventures, Sino-overseas cooperative or solely overseas-funded ventures, said Yu Yongzhan, deputy director of the General Administration of Press and Publications at a press conference in Beijing Wednesday.
According to China's commitments made before the country was admitted into the World Trade Organization (WTO), China has already opened up book, newspaper and periodical retail markets to overseas investors, said Yu.
The Chinese government always encourages and supports the exchange and cooperation between Chinese publishing enterprises and their counterparts in other countries and regions, said Yu.
After China's entry into WTO, China has adjusted some policies and further expanded the investment sphere of industries concerning publication for overseas businessmen, said the official.
On the respect of printing, overseas investors now can establish printing enterprises in forms of Sino-overseas joint ventures or Sino-overseas cooperation, or establish wholly overseas-funded package and decoration printing enterprises, said Yu.
In the field of publication, Chinese and foreign publishers can have copyrights trade or carry out cooperative publication, Yu said.
Source: China Daily
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