The world’s biggest publishing conglomerate, Bertelsmann AG, has won a contract to distribute books in China. As an article in Money Magazine by Federica Bianchi reports, Bertelsmann has set the deal up as a joint venture with the Liaoning Publishing Group, a state-owned company. Reports Bianchi, “The joint venture is the first book-distribution company founded in China by a state-owned enterprise and a foreign company.”