Cai Business Indepth (CBID) has unveiled a new service which offers reliable financial news and analysis in English on its website cbid.com.

The service, which is a daily wrap-up of the main business stories in greater China, was initiated on Monday as CBID's baseline product.

The company is likely to release an advertising campaign next week to promote the service.

According to The New York Times, CBID has hired about 30 reporters for the new service. Another 30 have been recruited at Chinese-language daily, The Hong Kong Economic Journal, to provide English-language content for CBID.

The US newspaper also reported that CBID is planning partnerships with other media outlets to effectively focus on China.

James Ogilvy-Stuart, CBID's chief executive, said that although much information is available about China, most of it is not in English, and added that they are keen on addressing that issue.