28 Nov '11, 10am

Bookstore days are numbered in China - Channel NewsAsia

Bookstore days are numbered in China - Channel NewsAsia

SHANGHAI: More bookstores are closing down every year across China. Among the reasons include competition from online portals and government-run bookshop chains which enjoy tax benefits. The selection of books on China's online portals has been doubling every year. More than 35 per cent of published books are now sold online. And with discounts of up to 50 per cent, it's no wonder that less people are buying from bricks and mortar bookstores. Student Zheng Feng Chi said: "You can buy two or three books online for the price of one book in a bookstore. So if you see a book you really wish to buy in a store, usually you will note down the title then buy it online." Rent for a small shop space of less than 20 square metres has risen more than four times compared to 20 years ago. Classics Bookstore owner Mr Yin Shi Qin said his selection of books is the secret to staying profit...

Full article: http://www.channelnewsasia.com/stories/featurenews/view/1...

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