Beijing, China (FT.com) -- The editor of China's most influential independent news magazine stepped down on Monday, raising concerns that a freer press might be on the retreat.
The resignation of Hu Shuli from the Caijing financial title marks her defeat in a months-long battle with its publisher over editorial freedom and financial strategy.
Most of the management resigned last month in a demonstration of backing for Ms Hu. Wang Shuo, managing editor, said on Monday he would leave, joining several members of the editorial staff.
"There is no point in staying here because Caijing will no longer be Caijing without Hu Shuli," one reporter said.
Several staff said Ms Hu was planning to set up a media venture and had secured a publisher.
The Stock Exchange Executive Council, which publishes Caijing, accepted the resignation.
Ms Hu, 56, is a rare figure in a state-controlled media sector. She encouraged investigative reporting, rejected advertorials and challenged censorship,
She founded Caijing in 1998 and media experts said its status would be under threat without her.
The resignations leave the magazine little more than a shell. Ms Hu's departure is seen as an indication that SEEC might adopt an editorial stance accommodating to government censors and less challenging to well-connected enterprises.
That would mark the end of an unusual experiment. Although some traditional news media are quasi-privately run, their publishers are state-affiliated.
SEEC has close links to high-ranking officials but is only loosely affiliated with the stock exchange.
The ruptures come amid attempts by Beijing to create commercially strong groups while reinforcing its control over the media.
Caijing said Ms Hu would teach at Sun Yat Sen University in the southern city of Guangzhou.
Ms Hu could not be reached for comment.
© The Financial Times Limited 2009
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