Xinhuanet is the second online news agency to go public in China. (File photo/CFP)
The online portal of China's official news agency Xinhua is set to raise money by listing on the country's A-share market. The news outlet's application has officially been accepted by the China Securities Regulatory Commission, the Chinese-language Beijing Times reports.
Xinhuanet's application for an IPO on the Shanghai Securities Exchange is being underwritten by China International Capital Corporation.
The news portal will become the second state-run online media outlet after the People's Daily Online, the online version of the Communist Party's mouthpiece, previously raised capital on the stock market.
Xinhua owns more than 30 local television channels across the country and 10 subsidiary news websites.