Monday, May 10, 2010

3% of China's publications shut down

chindu better buckle up or face the axe from its handlers in China. As one reader pointed out, chindu lost about 400,000 readers. It is surviving not based on market efficiencies but by dole handed out from China.
Over 360 Chinese newspapers to be shut down -
Over 360 newspapers or periodicals in China - or 3% of the nation's total publications - would be shut down over the next three years. "We are determined to close those publications with potential insolvency
and poor development abilities," Liu Binjie, director general of the
administration, was quoted as saying Sunday by Global Times.

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