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CITIC Press Group will set up a joint venture in Japan to create a Sino-Japanese cultural exchange platform together with Culture Convenience Club (hereinafter referred to as "CCC"), which operates Japan's largest DVD and CD rental chain. This marks China CITIC Group and the Japanese company's first joint venture in Japan.

Cheng Yonghua, the Chinese ambassador to Japan and Pu Jian, deputy general manager of CITIC Group, as well as Muneaki Masuda, CCC chairman, all attended the signing ceremony.

"35 years ago, the CITIC Group successfully issued Samurai bonds in Japan for the first time. CITIC has maintained a good relationship with the Japanese business community for many years, has examples of successful cooperation in many areas today. CITIC, in full cooperation with Japan, has the largest number of bookstores and publishing houses. CCC is a well- known enterprise in Japan, and spearheads vital initiatives in the field of cultural and creative content. We look forward to our new joint venture under genuine cooperation. We will undoubtedly work together to create a high-quality cultural platform and achieve a mutually beneficial win for us both," Pu Jian, deputy general manager of the CITIC Group, said in his speech.

Masuda chairman recalled Tsutaya bookstore's business development in the last 34 years. Today, the CCC Group advocates vital business philosophy and a good performance with the help of big data systems.

In his speech, he also expressed hope that the next step will help aid in close cooperation with CITIC, with both sides understanding the charm of culture from each other and ultimately allowing for a resonation between two peoples as they begin to build a bridge of friendship between Japan and China.

Mr. Cheng Yonghua, Chinese ambassador to Japan, further emphasized in his speech that, "The CCC Group, CITIC Publishing and Japan will have co-founded 'CITIC Publishing Co. Japan." This collaboration is the epitome of our cultural love for Japan. I look forward to this collaboration and I hope that this will be able to serve as a model for the exchange of cultural industries between the two countries, through the exchange and sharing of information resources, and the deepen mutual understanding and friendship between the two peoples for years to come. "

The cooperation with Japan, CCC, and the CITIC Press Group will allow for greater access to quality books published. The value of resources will be greater, and will allow for the joint development of book copyright resources, and double the Japan market IP operations. In addition, the two sides will be in an exchange of culture and creative production development and design. These in-depth exchanges between China and Japan will occur in the field of culture and art as well. Exchange will occur at all levels, allowing for the greater promotion of Chinese culture to the world.