Xinhua Bookstore Head Office was founded on April 24, 1937 in Yan'an. On January 1, 1951, the General Administration of Xinhua Bookstores was reorganized into Xinhua Bookstore Head Office, a central-level books distribution unit. It is now an important subsidiary of China Publishing Group. Xinhua Bookstore Head Office is the top management institution of Xinhua Bookstores all over China. It centralizes and unifies the management of goods, finance and staff of all Xinhua Bookstores. Xinhua Bookstore Head Office has distributed more than 4.5 billion copies of books, with the list prices amounting to more than RMB25 billion. Xinhua Bookstore Head Office makes great contribution to the development of publications distribution and the prosperity of the cultural industry in China.