Finance
In the past, Xinhua was able to attract the top young journalists emerging from the universities or otherwise newly entering the field, but it can no longer do so easily because of the appeal and resources of other newspapers and periodicals and the greater glamour of television and radio jobs. For example, mid-level reporters for the Xinmin Evening News in Shanghai are often given an apartment, whereas at Xinhua and People's Daily this benefit is reserved for the most senior journalists.
Beijing has been cutting funding to the news agency by an average of seven percent per year over the past three years, and state funds currently cover only about 40 percent of Xinhua's costs. As a result, the agency is raising revenues through involvement in public relations, construction, and information-servicing businesses.
Read more about this topic: Xinhua News Agency
Famous quotes containing the word finance:
“Imperialism is capitalism at that stage of development at which the dominance of monopolies and finance capitalism is established; in which the export of capital has acquired pronounced importance; in which the division of the world among the international trusts has begun, in which the division of all territories of the globe among the biggest capitalist powers has been completed.”
—Vladimir Ilyich Lenin (1870–1924)
“There is an enormous chasm between the relatively rich and powerful people who make decisions in government, business, and finance and our poorer neighbors who must depend on these decisions to alleviate the problems caused by their lack of power and influence.”
—Jimmy Carter (James Earl Carter, Jr.)
“A bank is a confidence trick. If you put up the right signs, the wizards of finance themselves will come in and ask you to take their money.”
—Christina Stead (1902–1983)