The People’s Daily report that the Beijing municipal government is expected to ramp up quaternary investment in its existing state-supported digital publishing industry by creating several technology parks, totaling 600,000 square meters which aims to bring together Beijing’s existing digital publishing professionals:
The construction of the digital publishing base, which consists of several parks covering a total of about 600,000 square meters, will be completed by 2020, according to a strategic framework agreement signed on December 17 by the Beijing Municipal Bureau of Press and Publication and the Fengtai District Government.
A total of 400 enterprises are expected to settle in the base, creating an annual output of 50 billion yuan (US$8.1 billion). 50 of them will be well-known companies.
The output of Beijing’s digital publishing industry accounts for more than 20 percent of the country’s total, Sun Ying, vice director of the bureau, said.
The base will take advantage of the city’s rich publishing and media resources to develop e-books, digital magazines and periodicals, digital music, digital video products, Internet games and animation, as well as online education.
China thus far has 12 national digital publishing bases, which have played an important role in spearheading the development of the country’s digital publishing industry.
It’s worth noting that in 2013, state news reported that the country’s digital publishing revenue had grown to 193.55 billion yuan (31.55 billion U.S. dollars), accounting for 11.6 percent of the revenue of the whole publishing industry and was seeing solid 50% year-on-year growth but the degree to which the domestic market can be opened up by foreign companies remains debatable, China now plays host to a number of vendors, mostly based out of the emerging tech-cities of Shenzhen and Guangzhou.