Under the agreement released yesterday, the Shanghai Television (STV) Business Channel arm of SMG will broadcast live business news twice each working day, starting on April 14, for CNBC.

A morning brief and an afternoon update, each lasting about 5 minutes, will ensure that CNBC's viewers across Asia, Europe and the United States are informed of the latest developments in China's business environment, said Gao Yunfei, executive director of the channel.

Meanwhile, global business and financial content from CNBC will be beamed to audiences in China via the STV Business Channel, Gao said.

The partnership has received approval from China's State Administration of Radio, Film and Television and is strongly supported by the relevant Shanghai government departments.

"The co-operation is the first of its kind in the city's viewing area, targeting investors and business people in and out of China," said he.

Li Ruigang, president of SMG, said: "This is only the beginning with more co-operation opportunities yet to be explored."

Li visited CNBC headquarters in February and found many of its programs worthy of introducing to Chinese audience.

A special edition of CNBC's "Managing Asia," which is to be repackaged by SMG, will be offered to Chinese viewers via its Business Channel, said Alexander Brown, president and chief executive officer of CNBC Asia Pacific.

Through in depth, one-on-one interviews, the program examines the secrets and strategies of the Asia Pacific Region's most influential business leaders.

(China Daily April 11, 2003)