🌿 Folk Prescriptions

Journalist (hereinafter referred to as "J"): The recent development of the Peking University Medical Press has attracted much attention from industry insiders. Over the past decade, your press has grown from small to large, from weak to strong, rooted in professionalism, firmly established, and rapidly developed. What is the secret behind this?
Lu Yindao (hereinafter referred to as "Lu"): Success stems from a deep and meticulous analysis of the market, forming a scientific publishing philosophy, seizing opportunities, and working steadily. The Peking University Medical Press analyzed its resource advantages and historical background, deciding to focus on academic monographs and professional textbooks as the breakthrough for development. We worked hard to build brand recognition, aiming to stand out in a highly competitive publishing landscape.
First, we invested significant effort in topic development, striving to create unique products. In summary: (1) Identify gaps and niche markets, adept at finding blank spots; (2) Precisely target professional readers; (3) Maintain a long-term vision, not limiting ourselves to short-term financial gains. Topic development requires not only brand-building awareness but also maintenance and extension of the brand, generating continuous brand synergy.
Second, a people-oriented management model and a market-adaptive operational mechanism are another key to our rapid growth. Over the past ten years, our hiring principle has been: lean and efficient, stable core staff, maximizing talent utilization, ensuring everyone fulfills their duties, merit-based appointments, and merit-based elimination. This effectively motivated employees’ enthusiasm and initiative. The press continuously explored a unique publishing model. We implemented a division between planning editors and copy editors; established project-based studios; founded a textbook R&D center; adopted a sales representative system to strengthen a benefit-centered distribution system; emphasized corporate culture and cultivated expert-level publishing talents, moving toward an international-standard publishing model. These institutional measures powerfully propelled our healthy, sustainable, efficient, and rapid development.
J: For most professional publishers, publishing academic monographs is often the most challenging task for the editor-in-chief. However, Peking University Medical Press has not only published numerous medical monographs but has never incurred losses. How do you manage these books?
Lu: Ensuring quality is paramount in publishing academic works. Each year, we receive about 100 manuscripts, but only one-tenth are selected for publication. Works failing to meet publication standards are not published. Truly excellent academic works attract not only professional readers but also uncover a segment of potential peripheral readers, expanding the consumer base. To this end, we funded the establishment of a "Scientific Publishing Fund Committee" comprising several experts, specifically tasked with evaluating the frontier nature, authority, and academic value of monographs. Second, we benefit from a smooth marketing network. One-third of our books bypass intermediaries and reach readers directly. Our long-established reader database allows us to know exactly where our readers are, ensuring maximum sales.
J: Price wars in the book market have intensified in recent years, causing serious harm. Despite this, Peking University Medical Press has consistently adhered to low pricing and low discounting strategies, yet profits have increased. How do you view the relationship among sales turnover, profit, and pricing?
Lu: Considering our primary audience consists of students and scholars, we set low prices. The initial edition was not intended for profit; our profits mainly come from reprints and reissues. Meanwhile, we strive to reduce book costs, aiming to establish a market position with low-cost, low-price, high-quality products. I oppose some publishers focusing solely on turnover without regard for profitability. Over the past four years, our profit growth has exceeded our sales turnover growth, indicating our operational mechanism is efficient and healthy. In short, Peking University Medical Press’s rise is built on prioritizing management, continuously improving capital efficiency, and achieving higher profitability.
J: Over the past decade, you’ve grown alongside the press, witnessing its steady expansion. Now facing merger with Peking University Press, what are your thoughts? How will the excellent traditions of Peking University Medical Press be further inherited and promoted?
Lu: For over ten years, I’ve grown with the press, forming deep ties. The merger of Peking University and Beijing Medical University is a historical trend, merely a matter of time. My colleagues and I maintain a positive mindset—we don’t wait or depend on others but proceed step by step according to our annual plans. Under the current merger plan, we will form the Peking University Publishing Group with Peking University Press, followed by launching four additional subsidiaries. Within two to three years, we aim to complete institutional transition and a second entrepreneurial phase, striving to develop into a large-scale medical and health professional publisher by 2005, establishing a national center for medical textbooks and scholarly monographs and translations, transitioning from medium to large size, becoming the core publisher within the Peking University Publishing Group, with an annual output value of about 150 million yuan. The total annual output value of the Peking University Publishing Group will reach about 800 million yuan. In short, joining the Peking University Publishing Group means we’ll join forces with Peking University Press, sharing resources and leveraging strengths. We’ll utilize Peking University’s brand advantage and robust distribution network, focusing intensely on topic development, striving to publish original works in cutting-edge medical fields, investing heavily in copyright trade, laying a solid foundation to meet the challenges of globalization and enter the international market.
J: Your life experiences are exceptionally rich, having worked in multiple industries and held leadership positions. From your personal perspective, what makes the publishing industry unique compared to other sectors?
Lu: Society is a vast book; truly reading and understanding it is no easy task. I enjoy self-study, having learned and worked simultaneously over the years. Rich life experiences are my entrepreneurial source and motivation. My time in business taught me the importance of management. However, the overall management level of university presses lags behind that of societal presses. Many directors focus only on scale while neglecting management. In fact, university presses possess abundant academic resources and enjoy certain national publishing preferential policies, so they should have greater potential for development. Yet, the current situation is far from ideal, and neglect of management is a key reason. Publishing is a dual-attribute industry: on one hand, books are commodities; on the other, publishing is a cultural industry. The publishing world has long pursued the optimal balance between social and economic benefits.
Publishing is also a high-risk industry. Each year, Peking University Medical Press launches over 100 new books. Whether they will be accepted by the market and readers keeps me anxious at all times. Some topics achieve great success, bringing joy; others are ignored by readers, causing sleepless nights. Sometimes, I agonize over a topic, unable to decide after multiple revisions; sometimes, inspiration strikes suddenly, and I’m thrilled by a brilliant idea. After a book is published, whenever someone praises it highly, I feel genuine happiness. Especially in recent years, I’ve grown increasingly fond of the publishing industry, often feeling like a treasure hunter. Facing the vast, mysterious, and captivating medical cultural treasure trove of our motherland, I feel compelled to fulfill a sacred mission, energized and unstoppable.