8 February 2012 Last updated at 00:38 ET

Xinhua affiliate begins trading in Hong Kong

Xinhua began broadcasting as a TV network in 2010, in Chinese and English

A company linked to the Chinese news agency Xinhua has begun trading on the Hong Kong stock exchange.

The move comes after an existing listed company, Tsun Yip Holdings, acquired Xinhua TV Asia-Pacific Operating Co Ltd last year.

Many Chinese media outlets are trying to expand their reach outside their home market.

Hong Kong is seen as a gateway for Chinese companies to do business in the rest of the world.

Last year saw several Chinese news organisations open or expand offices in New York City, including Xinhua, China Daily and China Central Television (CCTV).

'Competitive and influential'

Analysis

Juliana Liu Hong Kong corespondent, BBC News

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Xinhua Television says this listing is part of wider efforts to create a world renowned media company.

The agency's newly launched English language channel, CNC World, aims to compete with BBC World News, CNN International and Al-Jazeera English.

But it already has competition in the form of CCTV 9, the much more established international arm of the Chinese state broadcaster.

If Xinhua's massive billboard in New York's Time Square is anything to go by, the news agency is sincere in its ambition of bringing China's party line to a much wider audience.

But it's unclear whether the world is ready for two state-owned Chinese television channel with similar viewpoints.

According to filings made to the Hong Kong stock exchange, Tsun Yip completed a deal worth HK$700m to acquire Xinhua TV Asia-Pacific Operating Co Ltd from China Xinhua News Network Co in December.

China Xinhua News Network Co is fully owned by Xinhua News Agency, China's official mouthpiece, and will hold shares in CNC.

Tsun Yip has renamed itself CNC Holdings following the deal.

Wu Jincai, chairman of CNC Holdings, said CNC aims to become an influential and competitive broadcaster.

Xinhua began broadcasting Chinese TV in 2010, while the English channel was launched in July of the same year.

Before that its focus was on supplying material for all other Chinese media.