"The online media has squeezed the living space of print media and it forces foreign titles to update their quality of content, services, their ability to distribute in order to be more competitive," Li says.

Other foreign titles, on the other hand, have been successful in China by finding a niche.

As an English-language publication in China, TimeOut, based in the United Kingdom, has positioned itself as a city-central magazine for expatriates who live in China.

Under a license agreement with SEEC Media Group Ltd, a Hong Kong-listed publisher and distributor, TimeOut is published in Shanghai and Beijing with a circulation of 130,000 and is distributed to spots where expatriates frequent, such as diplomatic compounds, five-star hotels, bars, restaurants and airport lounges.

Kenneth Tan, editor-in-chief of TimeOut China, says the publisher has doubled its revenue so far this year from the same period last year thanks to its strong and attractive global brand.

"The great thing about TimeOut is that it's an international brand. People know what the brand is. The strength of our magazine also lies in our strong editorial team not just in China but an international community based on TimeOut global resources, so our clients value our expertise and how we do things. People take ads in TimeOut obviously they want return investment. We try to take care of that. We know what kind of ads they want while certain companies don't have that knowledge," he says.

CCMC's Li says that the addition of foreign magazines have not only helped the industry's bottom line, they have helped domestic magazines develop and grow.

"The booming of foreign media groups has helped print media industry in China develop into a new level. They are not just aiming to gain more market share, but also they work hard to develop resources in China," Li says.