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Financial news save newspaper industry

出自香港新聞網 - 樹仁新傳系學生實習習作

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Financial news saves newspaper industry

September 25, 2012

Aviva Zhang Qi Report

With the development of science and technology, many people think the sun is setting on the newspaper industry and that journalists will no longer be important. Tim Chan, the executive chief editor of the Hong Kong Economic Journal, however, is optimistic about the news business. Yesterday he spoke at a school lecture, saying that he believed people need lots of information now, and that it is the best time to work in news.

In the past, Hong Kong had almost no financial newspapers. Even now, with the city as an international financial center, there is still much room to develop, such as in financial information. Chan says financial newspapers have become more and more important, which reflects economic and social progress. And a large number of financial news will affect the investment market.

"We are influenced by financial information, such as QE3, which is the reason why inflation is up and why HK$4 fast-food sells out in 25 minutes. People are willing spend money to buy this information," Chan said.

Chan said he helped build the Economic Journal's subscriber-paid website, the first such site in Hong Kong. At the beginning, many people thought the idea was crazy. However, in the first three months of the site's launch, they had 8,000 subscribers, and they kept seeing growth.

Recently the Economic Journal raised its price HK$2,and Chan revealed, “It doesn’t bring sales pressure, entirely within the expected.” He also believes financial information is the most easy to earn money in news.

In addition, the Economic Journal always solution to the QE1 and QE2, but Chan thought "it was difficult to define whether it was success or not." After the QE3 US stock index make new highest with 4 points and iPhone still sell five million in one day.

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