Funds earmarked for Beijing’s bookstores

Beijing has earmarked 18 million yuan ($2.7 million) this year to encourage bricks-and-mortar bookstores, which have been hit hard by the growth of e-books and online stores. Book retailers who are licensed, have fixed abodes and have been operating for at least three years can apply for the financial support. The offer of aid came from the Beijing municipal bureau of press, publications, radio, film and television. It said the government plans to support 70 bookstores this year, and the maximum amount for each store is 1 million yuan.