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Title: China's Xinhuanet gets approval for going public in Shanghai
Source: [None]
URL Source: http://news.xinhuanet.com/english/2016-09/24/c_135710007.htm
Published: Sep 26, 2016
Author: Editor: huaxia
Post Date: 2016-09-26 01:26:40 by Tatarewicz
Keywords: None
Views: 4435
Comments: 10

BEIJING, Sept. 24 (Xinhua) -- Xinhuanet.com, the website of China's official news wire Xinhua News Agency, has got the green light for an IPO on the Shanghai bourse.

The China Securities Regulatory Commission (CSRC) announced the approval Friday night after years of consideration, without elaborating.

According to the company's prospectus, Xinhuanet.com plans to raise nearly 1.5 billion yuan (230 million U.S. dollars) to fund its multi-media business, cloud service and mobile Internet services.

In 2014, the company earned 634 million yuan in business revenue and 188 million yuan in net profit. Its major source of revenue came from advertising, which contributed 348 million yuan in 2014.

Xinhua News Agency holds more than 80 percent of the shares.

The move is part of the government's push to commercialize the state-controlled news websites to make them more competitive in a fast-changing industry.

People.cn, website of the People's Daily -- the flagship newspaper of the Communist Party of China, went public in early 2012.

Xinhuanet.com applied for an IPO in early 2013, but the procedure was suspended as the CSRC halted approval of new stock listings. Another application was submitted in mid-2014 after the approval process resumed.

Links to Xinhuanet.com >>

Chinese homepage

English homepage

French homepage

Spanish homepage

Russian homepage

Arabic homepage

Japanese homapage

Korean homepage

German homepage

Portuguese homepage

Uygur homapage

Tibetan homepage

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Begin Trace Mode for Comment # 5.

#1. To: Tatarewicz (#0)

Not quite sure if this was caused by Obama's intention to relinquish control of the internet to Europe, but it may have been a factor.

Trump won't allow it, but Obama may squeeze it through before he leaves office.

Other than that, whatever China does within China's internet really has no impact much of anywhere else.

HAPPY2BME-4UM  posted on  2016-09-26   3:23:27 ET  Reply   Untrace   Trace   Private Reply  

Not quite clear how much ownership and press control is retained by government or Communist party. Probably not much change. Even in best of times it's hard for politicians to handle a billion+ people; don't need media stirring things up.

Tatarewicz  posted on  2016-09-27   0:24:48 ET  Reply   Untrace   Trace   Private Reply  

Not quite clear how much ownership and press control is retained by government or Communist party. Probably not much change. Even in best of times it's hard for politicians to handle a billion+ people; don't need media stirring things up.

==========================================

China's biggest two challenges in the coming year are historical national debt (even greater than our's) and unemployment.

Both are catalysts for war for status quo regimes to hold on to what they have.

HAPPY2BME-4UM  posted on  2016-09-27   2:57:52 ET  Reply   Untrace   Trace   Private Reply  

Both are catalysts for war for status quo regimes to hold on to what they have.

Been the traditional formula in times past. Let's hope the new China crew with engineers and PhDs at the helm will handle things differently.

Tatarewicz  posted on  2016-09-27   23:20:06 ET  Reply   Untrace   Trace   Private Reply  

Both are catalysts for war for status quo regimes to hold on to what they have.

Been the traditional formula in times past. Let's hope the new China crew with engineers and PhDs at the helm will handle things differently.

=====================================================

If over a billion people get hungry to the starving point at the same time (e.g., Chinese), no army of PHDs are going to be able control them.

At the present time though, China is doing a better governmental leadership job than what is at the helm of the US gov, and not just at the Federal levels.

No government is without corrupt leaders, we just happen to have as many as they do now.

HAPPY2BME-4UM  posted on  2016-09-28   10:11:43 ET  Reply   Untrace   Trace   Private Reply  

#6. To: HAPPY2BME-4UM (#5)

China has lots going for it. They actually export a fair amount of food. Seems to be nothing but garlic from China in Canadian stores, oranges, fish, lots of prepared foods. They are developing industries in Africa, South America, Russia, Australia not only as investments but probably as food and resource supplies. A fair amount of effort is going on to stamp out corruption. Chinese unusually industrious, willing to work whatever the pay. A fair number of their top people have been trained in schools of the West and probably fewer of the really bright who train abroad will not return. China not meddling in politics abroad; has much of the world looking at it as a market. Most important, they don't have to take orders from Israel's Khazars who have been nothing but so much trouble that they had to be chased out of more than a hundred communities over the centuries.

Tatarewicz  posted on  2016-09-29 01:05:03 ET  Reply   Untrace   Trace   Private Reply  

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