Focus China: Publishing Market and Book Retail
China's book retail market had maintained an annual growth rate of 10% for a number of years. The epidemic in 2020 had serious effects on it, sparking a negative growth of 5% for the first time in years. In the first half of 2021, the book retail market increased by 11.45% year-on-year. In this video, a market research institute specialised in the book industry will present some of the latest statistical data on China's book market, including digital publishing and imported book titles.
Book retailing in China took a hit in 2020, but no other part of the industry was affected more severely than brick-and-mortar bookstores, which saw a decline of 33.8% on a year-on-year basis. The ratio of sales of physical and online bookstores shifted from 3:7 in 2019 to 2:8 in 2020. 1,573 bookstores closed in that year, but 4,061 new bookstores opened shop during the same period of time. What does the life and death of these bookstores signify? This video reveals some of the answers to these questions.