Innovation and Development of China Machine Press in the New Century

China Machine Press (CMP), founded in 1952, is a leading multi-disciplinary, multi-disciplinary and multimedia publishing group in China with an extensive, comprehensive and specialized business integrating paper, audiovisual and online media, and researching, publishing, training , print, broadcast and distribution. Currently, CMP publishes more than 3,700 new books and imports more than 400 foreign books each year. In 2010, the book and magazine sales volume reached RMB 1 billion. CMP’s main competitive advantage lies in its innovative business strategy and management concepts, strict publishing standards, and high product quality. In 2007, CMP was named one of the 500 Most Valuable Chinese Brands by the World Brand Lab with an estimated brand value of RMB 787 million. From 2008 to 2010, CMP had been on the list for three years in a row, and with brand value rising beyond RMB 1.66 billion in 2010. CMP started as a stateowned institution, and as part of China’s publishing industry that is highly regulated by the government, it was also subject to strict government supervision. Therefore, the focus of this case study is to understand how Wang Wenbin, President of CMP, devises new business strategies to gain a competitive advantage in a regulated industry and leads the company to carry forward marketization reform.

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