Chinese School - First media co. to adopt shareholding system

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First media co. to adopt shareholding system

www.chinanews.cn 2005-04-19 15:05:11

Chinanews, Beijing, Apr.18 (Wang Yongzhi) - With registered capital of
100 million yuan, China Insurance Press Co., Ltd. was primarily initiated
by the China Reinsurance Group Corp. and jointly established by China
Life Insurance (Group) Company, Beijing Creative Media Investment (Group)
Company, Fuxi Investment (Holding) Corp. and PICC Holding Co., Ltd. On
Apr.18th, China Insurance Press Co., Ltd. held its opening ceremony,
becoming China's first news agency to adopt a shareholding system.
China Insurance News, which began issuance 11 years ago, has transformed
into China Insurance Press Co., Ltd., and now plans to set foot in other
business such as publication, conventions, exhibitions, education,
training and consultation, in addition to advertisement and issuance. It
will also adopt capital operation to become an authoritative information
service platform for China's finance and insurance industry.
Based on ensuring state-owned share holdings and a belief that this is a
significant experiment in China's reform of industry news media and new
progress in news publication system reform, senior officials at the China
Insurance Regulatory Commission and the General Administration of Press
and Publication gave approval to China Insurance News' attempt to
introduce diversified investment and to absorb insurance industry
investment, and news publication industry and privately-owned capital.

E-mail: zhangqinghua@chinanews.com.cn Tel: 8610-88387443 Fax:
8610-68327649

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