China Media Group (CMG) on Saturday announced that construction of its Copyright Trading Center at the West Bund Media Port in Shanghai had begun. 

The Institute of Urban High Quality Development in New Era started construction at the same time.

The joint effort between CMG, China's largest media group, and the Shanghai municipal government is intended to make better use of CMG's abundant media resources, digital platforms and digital productions from the general public, as well as accelerate the development of Shanghai as an international cultural metropolis and a central city for cultural and creative industries.

Shen Haixiong, president of CMG, and Gong Zheng, mayor of Shanghai Municipality, attended the event and delivered speeches.

Relying on the high-quality resources of CMG and the latest technological achievements of 5G+4K/8K+AI media, the Copyright Trading Center will feature three systems: the central system, the copyright asset management system and the industrial operation system.

Despite the COVID-19 pandemic and other adverse factors, CMG's copyright trading has risen significantly recently.

As the first major copyright cooperation project for the Copyright Trading Center, a test version of "CMG Special" was also released on Himalaya Podcast Player. Himalaya, an online audio platform, is home to over 600 million users, or nearly half of the Chinese population.