【11.1.5 NYT】CCP news site set for IPO

連長

http://dealbook.nytimes.com/2011/01/05/communist-party-news-site-set-for-i-p-o/?scp=2&sq=China&st=cseHere is one way of getting the people involved in People’s Daily, the state-run Chinese newspaper.The online arm of newspaper, which is the official publication of the Communist Party, plans to sell 40 million shares at 15 to 20 renminbi apiece in an initial public offering in Shanghai early this year.The issue for People.com.cn, valued at $120 million, was reported on Wednesday by another state-run paper, China Daily, which said this would be the first news site to list domestically.People’s Daily Online, which runs the Web site, has already struck deals with a number of investors prior to the offering, and plans to use the funds to branch out online, China Daily said, citing an unidentified source.The Web site recently introduced its own search engine, goso.cn, hoping to rival Baidu and fill the vacuum left by Google’s retreat from the mainland.More broadly, China is planning to overhaul the state-run media sector over the coming years, under a five-year plan formulated last October.The party said then that it aimed to strengthen the influence of Chinese culture in the world through the use of new media.“We aim to build People.com.cn into an internationally recognized Web site,” Zhang Yannong, the head of People’s Daily, said recently, according to China Daily. The newspaper version of the publication claims an average daily circulation of 230 million.Other sites set for an overhaul include Xinhuanet.com, the country’s state-run news service, and Cntv.cn, the online arm of China Network Television, both of which already publish news in English, French, Spanish, Arabic and Russian, as well as Chinese.Citic Securities, the Chinese brokerage house, will underwrite the issue. The firm says the Web site’s profit was 70 million renminbi last year, adding that it expects that to rise to 100 million renminbi in 2011.A spokesman for People’s Daily Online was not immediately available for comment.

紫玉炎华01

翻译啊  看英文很累的啊