In an oblique (possibly even ironic) reference to the notorious headgear worn by student militants during the so-called cultural revolution of the mid-to-late 60s, China's first national media distribution company has been launched, branded Little Red Cap.
The state-owned LRC, based on the Beijing Youth Daily network, has received government permission to open distribution depots across the vast [9,596,960 sq km] nation. It will handle distribution not only for newspapers, books and magazines, but also electronic publications.
Thus far it represents twenty-nine member companies with an aggregated daily circulation of 15 million and near to 100,000 staff. The 'fledgling' also accounts for around Yuan 10 billion ($1.2bn; €980.4m; £663.4m) in annual advertising revenues.
Occidental observers believe the creation of Little Red Cap is intended to ensure that China retains national supremacy in media distribution as it gradually opens its publishing and distribution markets to overseas investors.
Data sourced from: People