Article: XINHUA BOOKSTORE HEAD OFFICE FINISHES OWNERSHIP REFORM


AsiaInfo Services
04-27-2005
Xinhua Bookstore Head Office Finishes Ownership Reform

BEIJING, Apr 27, 2005 (SinoCast via COMTEX) -- Xinhua Bookstore Head Office has created Xinhua Publications Circulation Co., Ltd., a result of its ownership reform.

The newly-established company, with the head office taking a 40percent stake, will take over major business from the head office, thus becoming China's first national-level books wholesaling company.

Moreover, it will be responsible for sales of books for more than 7,000 Xinhua Bookstores nationwide and purchase of books from over 500 local publishing houses.

The head office has founded Sichuan and Liaoning Branches in Chengdu and Shenyang, part of ...

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