Tuesday, 02 January 2024 12:17 GMT

China's Grand Plan To Dominate Global Publishing


(MENAFN- Asia Times) If current trends hold, China is on track to become the most influential force in global publishing within the next decade. Its rise is powered by domestic growth, a focused expansion strategy, rapid advances in scholarly publishing and the early adoption of digital technology. This shift will influence both what the world reads and how it reads it.

China's book publishing market is already one of the largest in the world. Hundreds of millions of active readers, combined with growing disposable income, have increased demand for both print and digital formats.

Platforms such as Dangdang and JD Books continue to expand their catalogues, while audiobook and mobile reading apps are gaining massive traction. The fact that physical bookstores still thrive alongside digital reading shows how broad and diverse the market has become.

With so much consumer activity, Chinese publishers have the financial room to experiment with formats, marketing strategies and new distribution channels. These conditions allow publishers to test and refine models that other markets struggle to attempt. Over the next decade, this domestic strength will further boost China's exports of content and its influence on global trends.

While the market has faced challenges, such as fierce price wars and a slowdown in the children's book segment due to demographic changes, its capacity for innovation remains strong.

Chinese publishers are quickly adapting to the digital age, with short-video e-commerce platforms like Douyin, TikTok's mainland equivalent, becoming major sales channels. This rapid adoption of new retail models gives Chinese publishers an agility that outpaces their Western counterparts, enabling them to reach vast, digitally native audiences instantaneously.

Furthermore, a growing sense of cultural pride is driving demand for high-quality, original content that blends traditional Chinese narratives with modern themes. This push for home-grown IP is already yielding success, with publishers actively pursuing copyright exports and international cooperation deals.

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Asia Times

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