(ECNS) -- Beijing plans to earmark 18 million yuan ($2.7 million) to support brick-and-mortar bookstores facing competition from online shopping.
About 70 bookstores in the capital will share in a financial subsidy this year, with individual businesses eligible for a maximum of 1 million yuan, according to a circular posted on the official Beijing Municipal Bureau of Press, Publication, Radio, Film and Television website.
The bureau also provided detailed requirements to bookstores applying that include a sound social security system and no record of law infractions or administrative penalties in the past three years.
An official from the bureau said that Beijing would continue supporting physical bookstores in the 13th Five Year Plan (2016 -2020), giving priority to those with higher brand awareness and robust business growth.
An expert panel will help evaluate bookstores that apply for the subsidy, with the list of successful candidates announced in December.
Beijing authorities see brick-and-mortar bookstores as important venues to promote reading among the public and guarantee the city's place as national culture center.
