Chinese Government Approves Establishment of Country's First Shareholder-Based Media Company

April 20, 2005

The People's Daily reports that the General Administration of Press and Publication has approved the establishment of China's first media organization using a shareholding system. According to the People's Daily, the company, called the China Insurance Newspaper Limited Liability Company, will be co-led by a board of directors and a Communist Party committee. The report cited the company's Chairman as saying that the company would "ensure the Party's leadership of the media, and ensure correct guidance of public opinion. . . ."