China is taking another cautious step forward in reforming its media industry with preparations to list the website of People’s Daily, the ruling Communist party’s mouthpiece.
In its application, which China’s market regulator will review on Friday, the state media company said People’s Daily Online Co planned to raise up to Rmb527m ($83m) on the Shanghai stock market.
Although people.com is tiny by comparison of its visitor traffic and business metrics to its main privately owned rivals such as Tencent or Sina, the step is a small revolution for China.
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