China is probably today's most stunning book market, with 577 state owned publishing companies releasing 233.000 new titles per year and revenues of 7 bn $ - yet at an average price of only 1.5 $ per book.
Currently, China claims to spend some 150 million $ on importing some 14 million foreign titles and at the same time thousands of translation rights are sold every year to Chinese publishing groups.
But can buying rights and importing books on the global market places be more than a first step? In 2008, businesses in China and in the West are ready for the next step.
Books from China start to travel West on a broad scale, with titles like "Wolf Totem" (Penguin UK and US), Chinese TV personality Yue Dan's hugely successful notes on the ancient philosopher Confucius or, for young readers, "Naughty Boy" (Harper Collins) aiming at English language bestselling charts. At the same time, Chinese publishers not only translate books, but want to develop more complex and more lasting working relationships with publishing houses in the East. This applies notably to educational material which represents a particularly substantial part of the market. Yet the Chinese wish to not only translate material, but to 'localise' and adapt it for their local readership may stir up some controversy. In general, Chinese publishers want to enhance their business relationships to US publishers in ways that can be profitable and innovative for the partners at both ends. |