In an ironic twist to China's capitalist conversion, the website of the "Communist" Party People's Daily has announced it aims to sell 69.1 million shares on the Shanghai Stock Exchange.
The People's Daily Online Ltd Co (!!) is the internet platform of the People's Daily, an organ of the Central Committee of the Chinese "Communist" Party.
According to China Daily, the company aims to raise $84 million through the sale of its shares. The website is proud of compliments made to it by Chinese President Hu Jintao, who, "on June 20, 2008, during his inspection tour of People’s Daily Online, ... noted: "People's Daily Online has played a unique role in advocating the Party's belief, guiding public opinion and warmly serving netizens in the years since inception."
The website includes the News of Communist Party of China website, which "features six sections: news release, theories, database of Party history, interaction, online services and multi language services. Aside from traditional and simplified Chinese versions, it publishes news in Mongolian, Tibetan, Uygur, Kazakhstan, Korean, Yi, Zhuang, English, Japanese and Russian, making it the most comprehensive and systematic website about the Communist Party of China (CPC)."
It would seem only fair that as capitalism rules China, it should also control its main "Communist" website. A sign of the times!