The Phoenix Publishing and Media Group (PPMG) has been named one of the Top 30 Cultural Companies in China, the 10th consecutive year the Jiangsu-based publishing giant has been awarded the honorary title. 

The announcement was made by two leading cultural newspapers, Guangming Daily and Economic Daily, on the sidelines of the 14th China International Cultural Industries Fair in Shenzhen on May 10. 

She Jiangtao, vice-president of Phoenix Media, was among those who attended the award ceremony. 

Maintaining a development agenda placing books "first and foremost" among its priorities, PPMG has seen publishing remain its core business and its focus on the cultural needs of an increasing population. 

PPMG saw notable social and economic benefits in 2017, securing it top place among China's publishing industry. A dozen PPMG projects won various national awards and the company brought in annual income of 16.89 billion yuan ($2.67 billion) and a net profit of 2.12 billion yuan.