China’s media and communication industry is projected to grow 13.1% to US$77.51 billion (RMB544 billion) this year, the China Securities Journal
reported, citing the 2008 China Media Blue Paper by Tsinghua University’s School of Journalism and Communication. The industry was worth US$68.53 billion (RMB481 billion) in 2007, up 13.6% on the year before. Book publishing and mobile media will continue to top the industry this year, worth US$18.75 billion (RMB131.6 billion) and US$17.8 billion (RMB124.9 billion), respectively. Mobile media, including voice, mobile TV and SMS, and online media, which includes online gaming, advertising, video streaming, blogs and downloads, will be the fastest growing sectors this year. They were worth US$15.01 billion (RMB105.3 billion) and US$4.23 billion (RMB29.7 billion), repectively, last year. More than 20% of the sector's growth last year came from book publishing and mobile media. However, except for cable TV services, the contribution to the sector of traditional media, including TV commercials and newspapers, shrank. The report said the listing of Liaoning Publishing and Media Co Ltd in late 2007 was of great significance because it helped the industry gain the trust of venture capital investors. It predicts more media companies will go public over the next two years.