Xinhua sets up flagship financial media group

Xinhua News Agency has integrated its major financial newspapers under a new media group on Thursday to improve financial news and information service.

China Fortune Media Group brings together Xinhua's flagship financial newspapers -- China Securities Journal, Shanghai Securities Journal and Economic Information Daily -- with Xinhua Publishing House to improve quality and influence of its economic and financial news and information service.

Domestic and overseas demands for information about China's economic development are growing fast while media information production and communication are undergoing profound changes, offering space for financial media to develop, according to Cai Mingzhao, president of Xinhua.

The new media group will gradually expand into financial information services and other financial business, Cai added.

It will offer professional, authoritative, timely and diverse news and information products to a variety of clients. Moreover, it will carry out data analysis and credit rating services while exploring new businesses such as asset management, investment and wealth management. Endi