Paper Republic: Chinese Literature Matters

Chinese online lit update: Who says you can't charge for reading online fiction?

According to the company's [China Reading's] IPO prospectus, during the first half of 2017, active users of the reading platform reached 191.8 million, comprising 179.3 million smart phone users and 12.5 million computer surfers. Its business models in forms of VIP charges and categorized authors lead in the online reading industry, thanks to the industrial mogul Wu Wenhui, who initiated and promoted the acquisition and founded the online publishing and reading function.

The major revenue source is readers' fees - exemplified by China Reading's 84.9 percent of income generated by payments for online reading during the first half of 2017.


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