The chairman of Bloomberg L.P. said in a speech here on Thursday that the company should have reconsidered articles that deviated from the core of its coverage, business news, in light of the huge potential for its products in the Chinese market.
Bloomberg, the financial data and news company, relies on sales of its terminals, which are ubiquitous on bankers’ desks around the world, for around 82 percent of its $8.5 billion in revenue. But sales of those terminals in China declined sharply after the company published an article in June 2012 on the family wealth of Xi Jinping, at that time the incoming Communist Party chief. Following its publication, officials ordered state enterprises not to subscribe to the service.
Acknowledging the vast size of the Chinese economy, the world’s second biggest after that of the United States, the chairman, Peter T. Grauer, said, “We have to be there.”
Read Full Article HERE
Neil Gough, New York Times via CHINA US Focus http://ift.tt/1eWBxRc
No comments:
Post a Comment