16 Apr 2008 17:20

Interfax increases sales of news products from China, becomes largest foreign media outlet in mainland China

The Interfax Information Services Group increased sales of Chinese business information by 34% in 2007, an Interfax annual report says.

According to the documents prepared for the annual meeting of shareholders, Interfax Group, represented in China by a subsidiary structure Interfax-China information agency - became the largest foreign media outlet in the mainland China by the number of staff and has now more journalists on the ground than all other Russian media outlets combined.

Currently around 60 highly qualified employees are engaged in production of Chinese information products for Interfax in Beijing, Shanghai and other Chinese cities.

Interfax started producing news on China in March 2000. In mid-2002, Russia‘s major VTB bank became a shareholder of Interfax-China.

Currently Interfax-China publishes 14 information products in English and two products in Russian. These publications are dedicated to such important Chinese economic sectors as energy, financial markets, telecommunications, metals, IT and pharmaceuticals.

The Russian-language China newswire is a unique information product that has no analogues in Russia. It is the only online publication on China in Russian. Its subscribers include leading Russian companies interested in developing business in China and other institutions.

The main subscribes to the English version of Interfax business news from China are major international banks and corporations, legal and consulting firms, governmental structures and media companies in many countries around the world.

"Strategically, we want to expand our presence in the Chinese information area by supplying quality news covering the whole Chinese market and serving as a reliable support in business decision-making," said Michal Broniatowski, head of the Interfax-China project.

"The Interfax-China project is currently becoming a major provider of business information on China both in Russia and worldwide," First Deputy Russian Prime Minister and President-elect Dmitry Medvedev said in an interview with the Jenmin Jibao newspaper.

In an interview for Interfax, Chinese President and Secretary General of the Central Committee of the China Communist Party Hu Jintao, said that Chinese people are familiar with Interfax. "You happen to be a bridge linking two nations. Your work serves the cause of strengthening the friendship between our peoples, it contributes to exchange and cooperation between our countries," Hu Jintao said.

Interfax-China is currently the largest foreign project of the Interfax Group.

** Interfax Information Services Group provides news and information products essential for decision-making in politics and business. Established in 1989, Interfax Group comprises a network of national, regional, and specialized news agencies operating throughout Russia and the CIS countries, as well as in China and Central Europe.

The Group includes companies and divisions that provide news, analytical services, market data, as well as offering and developing software solutions for financial markets. Interfax has also partnered with Moody‘s Investor Service to form Moody‘s Interfax Rating Agency, Russia‘s leading national rating agency. The Group has also teamed up with global leading information solutions company Experian to form Experian-Interfax credit bureau, a joint venture offering credit and debt research services, the first such service offered in Russia. Thomson Financial, a division of Thomson Corporation and a leading supplier of information and technical solutions for the international financial community, is Interfax‘ strategic partner in Russia in investor relations (IR).