The book, magazine and periodical printing market has a long history in China. Despite growing competition from the rapid development of online publishing, China's printing sector has maintained steady growth in the past five years. It is not likely that digital publications will completely displace printed materials in China. One of their indispensable advantages is that readers can enjoy printed materials anywhere without the help of any other equipment.
Industry revenue is expected to total $17.5 billion in 2013, up 10.5% for the year. Annualized revenue growth is estimated at 11.2% over the past five years. There are an estimated 1,528 enterprises operating in the industry that employ about 230,000 people. Industry exports are estimated at $2.1 billion for 2013, or 12.2% of total industry revenue in the year. Meanwhile, imports account for less than 3.0% of domestic demand at $424.9 million.
The industry is undergoing a restructuring. The number of enterprises has fallen 0.4% annually over the five years, as businesses merge to form group companies. In addition, more foreign capital has entered the industry. Formerly, Chinese publishing and printing enterprises were almost all state-owned; now only 15.4% of industry firms are state-owned.
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