Comment: The value of "official website" who is the boss?

The Wu Junchang is scheduled to launch an initial public offering at the Shanghai Stock Exchange in early 2011 and is expected to become the first news site operator to list in China.　　According to media reports, the daily will be 15 to 20 yuan per share price issue 40 million shares, a maximum of 800 million yuan. Since last year, the "official website" on the intensive planning of the listing, ready to list also includes Xinhua, CCTV and other central websites, thousand Dragon Net, Oriental Network, North Network and other local websites. Official website listing background is, the relevant departments issued a notice of the 10 National key news sites to transfer enterprise reform pilot deployment, the prospect of new media has long been a consensus, the traditional state media vigorously expand new media path, look forward to harness the new media transformation, expand the audience, increase profitability points.　　In the official view, the listing is the official website to complete the market-oriented reform of the shortcut and the formula, not only can peel off its career establishment, reduce financial burden, clarify property rights relations, the establishment of modern enterprise system, but also to finance, enjoy a premium.　　Government resources is the absolute advantage of the official website, attached to the traditional mainstream media, the official website has the right to interview and press release, this is a commercial site does not have the quality of resources.　　2009 net profit of the daily income of 22 million yuan, according to the underwriters Citic Securities forecasts, the net 2010-year income will reach 70 million yuan, this year will be further increase to 100 million yuan. However, in terms of internet companies, the industry is more in line with the increase in traffic, rather than a momentary profit, the United States Internet traffic monitoring agency Alexa January 5 data show that the net traffic is only ranked 47th in China.　　The highest-hit Xinhua, the world's ranking is no more than 200. This also shows that the natural advantage is not equal to the competitive advantage, the official website can not cut the mother umbilical cord, upload issued the public opinion tool attributes or will become the biggest barrier to market development.　　Official media have been trying to use the new media to increase profitability, but the effect is not obvious, a typical case is the electronic version of the People's Daily tried to read fees, but due to a few, ultimately nothing. Not long ago, a former famous athlete who worked for the People's Daily search engine said that "there was no false news for 62 years", which caused outcry "we represent the country, you don't have to beat us, you should help us more and give us more advice," said the bureau-level cadre with a PhD in economics when talking about competition with Baidu. Our most important thing is not to make money, but to fulfill our national duties. "While trying to break through the system's natural obstacles, enjoy the market valuation and premium, while still sitting on a strong official level consciousness, in the name of the country to require competitors to give" help ", this violation of the economic common sense of speech, perhaps to some extent, reflects the current" official website "market-oriented complex mentality and embarrassing situation,　　Inclusion in the market and system, it is difficult to their own positioning and development of a clear judgment, even if the listing of the establishment of the so-called modern enterprise system, it is likely that there is a "shape" without "God".　　China's stock market fell third in the world last year but the total number of IPOs is the highest in the world, with strong government background and resource support, it can be foreseen that "official website" will form a trend of listing, their listing will directly change the Chinese Internet Enterprise Resource allocation pattern, a group of "deep" official website looming. But the relatively transparent and open regulatory environment of capital markets will test the firm's determination to market.　　In the end, investors have the final say in this market. (author email:cnai422@yahoo.com.cn)