According to data from the Chinese Academy of Social Sciences, more than 90% of best-sellers are produced by private publishers.
The General Administration of Press and Publication (GAPP), China’s publishing industry regulatory body, said China encouraged private enterprises in January 2010 and May 2009 to play a bigger role in the publishing business, and the result was dramatic.
The English People’s Daily reported that based on GAPP guidelines, the country wants six or seven press and publishing giants with annual revenues of more than RM10 billion (US$1.5 billion) in three to five years.
China promised the World Trade Organization it would open its publishing market further when it joined the industrial grouping in 2001. The first joint venture between a state-owned and a private publisher took place between Hubei Changjiang Press Group and Jinli Partnership in 2003.