Getty Images steps up to the plate in China

In another indication of how signficant China is becoming to a wide range of media companies, we note with interest the announcement of Getty's launching of a China's business. The company says:

Getty Images Inc. (NYSE:GYI), the world's leading creator and distributor of visual content, has launched Getty Images China, a local operation based in Beijing..

The company notes that the full office follows the opening of an editorial presence earlier in the year.
It goes on:

“China is currently the fifth largest market in terms of advertising spending, and is poised to surpass Japan, and become one of the world’s largest advertising markets,” said Jonathan Klein, CEO and co-founder of Getty Images. “As the Chinese economy continues to grow, and with it, awareness of intellectual property rights, it’s clear that China’s strategic importance and potential is a significant long-term opportunity for Getty Images. With a respected and experienced news photography team already in place, this is the time to reinforce our position in China as the leading global force for both creative and editorial imagery.”

They might be getting a bit ahead of themselves with the optimism about IP rights. That, or they have a very long term view of the world...

Given Alan Meckler's efforts to reinvent his business as a tech-savvy picture library, will he be replanting his flag in China soon?