The Chinese government approved measures to allow private investors to acquire direct ownership in media ventures.
The state-owned media sector's newspapers, broadcasters and publishers can apply to create pilot enterprises that will be permitted to bring in private investors and apply to list on stock markets. China's Communist Party will remain the media's overseer and will maintain its influence on content. Each pilot media enterprise will have to have a state-owned enterprise holding a controlling stake.
It is the first time that China's government will relinquish its media monopoly.