QINGDAO saw the establishment of five State-owned cultural groups Jan.18, reflecting the achievements of the city’s reformed cultural system.

The five cultural groups cover film, TV, press, publishing, performance and Internet media.

In his congratulatory letter, Liu Binjie, head of the General Administration of Press and Publication of China, said the establishment of Qingdao Press Media Co. Ltd. is conducive to the market-orientated approach to newspapers.

Qingdao Publishing Media Co. Ltd. will strive to be the first listed cultural enterprise among its State-owned counterparts in Shandong Province.

In addition, the shareholding system reform will be accelerated in the TV and press media groups with the introduction of strategic investments.

The performance group will step up integrating resources to create and stage more classic works, striving for an outstanding performance at the 10th national art festival.

 Meanwhile, the Internet media group will strive to turn itself into a signature brand nationally.(Li Hao, Li Wei)