Bertelsmann Expands Further Into China

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By Carmen

China Daily reports that Berteslmann, parent company of Random House, sees huge potential in China’s media and publishing markets and hopes to generate about 10 percent of its global sales revenue in China in the next few years. Gunter Thielen, board chairman of German Bertelsmann AG, introduced the group’s China development strategy in Beijing June 21. Bertelsmann expects to establish 10-15 joint ventures in China in the next few years through cooperation with local partners to increase the company’s global sales revenue in China from the current 1 percent. Thielen also added that Random House is considering expansion into China but hasn’t made any firm plans yet.