| The outburst of financial crisis indicates the drawbacks of monopoly in the globally financial information service industry.It is urgent to establish a more fair,just,balanced and transparent order in the financial information service industry,so as to improve the bell-alarming functioning of it.The birth of Xinhua' s Financial Information Service & Trading Platform is at the right time.Under an information booming background,and the drive of economic globalization and financial informationalization,Xinhua News Agency has embarked on a way of strategic reform.As part of its strategy,Xinhua has devoted itself to establishing China' s Financial Information Service & Trading Platform,starting a game with its global competitors like Thomson-Rueters and Bloomberg.This article analyzes Xinhua' s transformative strategy with a global eyesight and historical point of view,takes fully consideration of the marginalization reform of China' s media industry,searches for the reason of Xinhua' s transformation,and refers mainly to theSCP(Structure-Conduct-Performance) model which is commonly used in the industrial economic field.Meanwhile,in view of the special characteristics of the media industry,it also analyzes the market structure of financial information service industry,Xinhua' s market behavior,the social and economic performance of its establishing the platform.This article also discusses the market status quo,the developing strategy and the reforming path of Xinhua' s Financial Information Service & Trading Platform,to take a view of the developing trend and strategic decisions of China' s media industry under such a globally competitive environment.Firstly,this article makes an analysis of the macro environment of Xinhua' s establishing the Financial Information Service & Trading Platform.Adopting the "PEST" model in economic field,it especially focuses on researching the political,economic and technical environment. In the analysis of the technical environment,it specially investigates the impact of media merge on the development of modern news agencies. Finally it finds that establishing Xinhua' s Financial Information Service & Trading Platform is the need of the state' s strategy,as well as a high degree of match to the developing drive in the information era.Secondly,this article makes an analysis of the market environment of Xinhua' s Financial Information Service & Trading Platform,the market structure of the global financial information service industry,with the focus on three main areas,which are market share and market concentration degree,the degree of difference and industry' s entrance to barriers mainly including policy barrier,technological barrier and capital barrier.Apart from a description of the competition situation of the global financial information service,the article analyses the platform' s competitors,potential participators and alternatives.The direct competitors are Thomson Reuters,Bloomberg and Dow Jones.Those global financial information giants have now run directly into China' s market. Some have directly invaded financial institutions,some have jointly established projects or researches with domestic stock exchanges or institutions of higher learning,some have found new markets through new media such as networks or cell phones,and some have already stepped into China' s financial information market.The potential competitors such as China' s Economic Net,Developmental Research Center Information Network of State Council,China Business Network with a media background, institutions of corporate background including Wind Information,Shihua Economic Information,Financial Field,Great Wisdom and Hexun.The analysis of the alternatives is mainly focused on the financial media at home and abroad.Thirdly,the article pays great attention to the market behavior of Xinhua' s establishing of Financial Information Service & Trading Platform.Specifically speaking,it includes three areas.The first is an all-inclusive recalling of the agency' seconomic information service from a historical perspective.The second is a disclosure of the platform' s product framework,market positioning and basic functions-information publication,market expectation,data query,model analysis,online trading and so on,as well as a comparison with domestic financial information service systems such as Reuters 3000 Xtra, Bloomberg professional service and Wind.The third is an analysis of the structure that incorporates interviewing and editing,technology as well as marketing.The forth is an analysis of Xinhua' s marketing strategy, the integration of industrial chains,the reorganization of the interviewing and editing process,the innovation of organizational structures and capital management strategy.Then,the article describes the market performance and social performance of the platform.The assessment of its market performance relies on four referred standards,which are market profitability, degrees of internationalization,the functional realization degree of the platform and users' rating.As a strategy motivated mainly by administrative powers,the establishment of financial trading service system is always subject to a dilemma under the governmental regulations.Its social performance is mainly reflected in two aspects.In a positive sense,the Financial Information Service & Trading Platform has played a certain role in fighting for China' s right of speech for economy.However,on the other side,the well-backed financial trading service system is at the same time suffering from the restrictions of the mechanism as the cross-border powers interfere with the normal market competition and the politicization of the system often leads to "market failures".Xinhua News Agency is authorized to monitor foreign news agencies and also competes with them in news and information services,playing a dual role both as the regulator and the competitor which arouses conflicts.In the end,the article,with reference to the SWOT model (Strengths-Weakness-Opportunities-Threats),carries a discussion on the platform' s strategic choice for competition.Xinhua News Agency' s establishment of Financial Information Service & Trading Platform has its advantages such as unique political status and strong brand effect, advanced multi-media database,professional financial and economic media resource,a complete network of collection and a multi-channel distribution system.However,it also has disadvantages of highly scattered resources,blocking institutions and mechanisms,lagging information technology,a shortage of financial and economic foreign language personnel.Market opportunities are the obvious trend of internationalization of the RMB as China needs autonomous systems for trading and a platform for speech,an expanding capital market,the continued strong demand for information.The main threat is the competition pressure from domestic and foreign competitors,as well as risk from the external system.Finally,the author suggests that the future development of "Xinhua 08"(Xinhua's Financial Information Service & Trading Platform),from the organizational structure can be the implementation of brand-oriented diversification strategy while from the perspective of product innovation should be an active employment of a differentiated competition strategy.
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