Publishing still hot on bourses

If you think the publishing industry is going irreversibly downhill in this Internet age, think again. It is fast becoming one of the hottest sectors in the Chinese stock market, thanks to government support, in a big way.

Take Shanghai-listed Time Publishing & Media Co Ltd, a unit of the State-owned Anhui Publishing Group in Anhui province, one of the less developed regions in China. The company's shares have surged nearly 35.53 percent, despite occasional faltering after its shares resumed trading on Sept 18, 2008 after a long restructuring process. Time Publishing shares closed at 22.66 yuan yesterday. The shares have significantly outperformed the benchmark stock index, which rose 17.35 percent in the same period to 2224.71 points.