Date
23 October 2017

State Grid’s media investments paying off, report says

State Grid Corporation of China is apparently benefiting from its investments in some media firms last year, as there are fewer negative stories now in the press on the grid operator, according to news website caijing.com. State Grid invested 50 million yuan (US$8.24 million) in a news website owned by the 21st Century Business Herald and 160 million yuan in the parent of China Business News, and is also said to have been in touch with other famous media firms, the report said. It is worth noting that negative reports on State Grid, including calls to break up the company, have basically vanished since the second half last year, the report said, suggesting that the firm’s financial investments may have led to pressure on the media firms to avoid unfavorable stories.

– Contact HKEJ [email protected]

TL/AC/RC

 

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