China’s State Media Plan IPOs For Their Online Operations

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By: Robert Andrews | PaidContent.org

Communism and capitalism are now apparently the same thing in Chinese online media. The People’s Daily newspaper, an organ of the country’s ruling Communist Party, has filed to float its People’s Daily Online website in Shanghai to raise 527 million yuan ($83.4 million).

The idea is “to maintain and enhance the company’s competitive position in the industry, thus further improving the company’s profitability and social impact”, according to the prospectus.































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