ADAM MINTER: How China is re-inventing literature with a Tencent spin-off
'On Wednesday, China Literature Ltd., the country's biggest online publisher, will go public in Hong Kong, with a market value expected to exceed $6 billion'
Smartphones may be killing print in China, but they're revolutionizing literature. Last year, 333 million Chinese read fiction written for their phones and other devices, according to government data. Some is written by hobbyists and some by professionals. Increasingly, though, it's hard to tell the difference, as China's "online literature" morphs into a $1.3 billion industry. Investors have taken note. On Wednesday, China Literature Ltd., the country's biggest online publisher, will go public in Hong Kong, with a market value expected to exceed $6 billion. Its success should put the rest of the publishing industry on notice that the future of the book is being written in China -- and it looks nothing like the past.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.