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Book revenue booming

By CECILY LIU | China Daily UK | Updated: 2017-03-16 19:59

Overall revenue generated by China's publishing industry has grown by more than $100 billion since 2011, partly as a result of international collaboration, according to figures revealed at the London Book Fair on Wednesday.

They show China's publishing industry revenue grew to$315.5 billion in 2015, from $212.2 billion in 2011. In 2016, China's retail book market grew to $10.1 billion.

The figures were published in a report launched at the 2017 International Publishing Forum of the LBF, a seminar attended by around 100 Chinese and international publishers. Key topics included Chinese and international publishers' expansion into each other's markets, the trading of book copyrights, translation, and joint development of books and digital content.

"This report helps international publishers understand more about China's publishing market and identify market opportunities for themselves," said Mao Yuansheng, president of International Publishing Journal.

Jacks Thomas, director of the London Book Fair, said books are an important way in which people can learn more about China's fast-changing landscape.

Xiang Xiaowei, minister counselor for culture at the Chinese embassy in the United Kingdom, said publishing industry synergy is a highlight of China-UK collaboration.

China has now been featured at 17 major international book fairs. The Beijing International Book Fair is also becoming a key international book fair.

Zhu Weifeng, a director at the State General Administration of Press, Publishing, Radio, Film and Television said: "In the past, China and overseas publishing industry collaboration was focused on traditional methods, such as rights trading ... but now collaboration in the digital publishing space is also growing."

Many international publishers are engaging in China-related activities. One example is London-based ACA Publishing, which has bought the rights to several Chinese books for translation into English. They cover a range of subjects, including biography, economics, culture and politics.

This year alone, ACA bought the rights to 20 Chinese books. Wang Ying, publisher of ACA said: "I see engaging with China-themed books as a sunrise opportunity within the publishing industry."

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