Chinese publishing giant Phoenix Publishing and Media Group was ranked 10th on the list of the 50 largest publishers in the world in 2022, which was released on Oct 19 at the Frankfurt Book Fair.

The company saw a 9 percent increase in sales compared to 2021.

RELX Group (Reed Elsevier) and Thomson Reuters continued to occupy the top two places with respective annual operating revenues of $5.72 billion and $5.49 billion.

An initiative by Livres Hebdo, this annual snapshot of the global book business has been updated every year since 2007, and is co-published by Bookdao of China, The Bookseller of the UK, Buchreport of Germany, Publishers Weekly of the USA, and PublishNews of Brazil.

This ranking lists 50 book publishing corporations worldwide, with revenues of over € 150 million ($149.60 million) each, since 2007 and celebrates global book publishing's digital transformation, globalization and consolidation.

In addition to PPMG, three other publishers – China South Publishing and Media Group (17th), China Publishing and Media Holdings Co Ltd (27th), and China Science Publishing & Media Ltd (38th) – are also listed among top 50 publishers in the world.