Spinoff Speculation Surrounds China's Top Magazine

The general manager of China's most influential financial magazine and dozens of her staff have resigned, in a possible tussle over editorial control at the path-breaking publication.

Heidi Zhang told The Associated Press on Tuesday that Caijing Magazine's Daphne Wu Chuanhui and almost 60 to 70 employees who worked for her in the business department have resigned. She declined to comment on the reasons for the exodus.

The mass resignations at Caijing are fueling speculation that editor-in-chief Hu Shuli is also planning to leave, possibly to start her own publication.

Turmoil at Caijing, known for its fearless reporting of corruption, pollution, public health scares and other sensitive topics, could set back efforts to establish a freer press in China. By breaking news on issues thought to be forbidden by the country's strict censors, the magazine has paved the way for more gutsy reporting by other mainland publications.

Hu is credited with being particularly deft at negotiating the no-go territories, pushing the boundaries as far as they will go while evading censure or shut down since Caijing was founded 11 years ago.

In a story Monday, Hong Kong's South China Morning Post cited anonymous staff members as saying that Hu had been trying to pressure the journal's owner and publisher, Hong Kong-listed SEEC Media Group, into surrendering majority control by bringing in outside investors. The paper said that if Hu failed, she might resign to launch a new venture.

"I can't comment on their speculations," Zhang said when asked about the report. "Shuli is still working. She didn't take any actions."

Asked to confirm whether Hu and the magazine's owner and publisher were in negotiations about a possible restructuring, Zhang said the two sides were expected to "have some communication" but was unable to give specific details.

Calls to SEEC's public relations offices in Beijing and Hong Kong rang unanswered Tuesday.