Media News - Wednesday, July 02, 2008

FT launches magazine for China’s wealthy

The Financial Times Group has launched a Chinese-language magazine aimed at the country's growing business elite. Rui, a Chinese character that means 'wise' or 'farsighted', is available in China from Wednesday. The monthly title will be the first magazine in Chinese published by Pearson-owned group and distributed in China. Rui will be a quality lifestyle and wealth-management title that takes some of its inspiration from the FT's luxury goods magazine How to Spend It and the newspaper's quarterly supplement FT Wealth. It will feature both original articles and re-purposed content taken from the FT. The title will offer readers advice on smart investments and matters of style and taste. It will also look at the lives of those Chinese who travel the world and come back to their home country with fresh ideas and influences. By targeting China's swelling ranks of wealthy individuals, the FT hopes to attract plenty of lucrative high-end advertising. Rui is believed to be launching with a print run of around 80,000. It will be printed in Hong Kong and distributed on the mainland of China. Foreign media companies have generally formed joint ventures to break into the Chinese market, so securing agreement from the Chinese authorities to distribute its own start-up is something of a coup for the FT. The FT already runs a Chinese-language website, FTChinese.com, whose London-based editor, Zhang Lifen, will oversee the new magazine. (The Guardian)

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