Three state-owned textbook publishers and two other companies have been merged to form a new Chinese publishing group as part of efforts to reform the country’s state-owned publication business.
The new company, China Education Publishing & Media Group, was formed from the People’s Education Press, the Higher Education Press and the Language and Liberation Press, three major publishers of textbooks and reference books for schools and colleges, as well as the China Education Publications Import & Export Corp and China Educational Instrument & Equipment Corp.
Bringing them together makes logical sense as so many of their areas overlap. China’s state-owned publishing houses used to be run as non-profit public undertakings.
Since 2009, the government has begun to restructure small publishing houses into big corporations and introduce corporate governance to sharpen their competitive edge.
English News.cn reports that of 528 state-owned publishing houses, 435 have already been restructured.