NEW YORK, May 27 -- "It was the best of times, it was the worst of times," said Charles Dickens in his masterpiece "A Tale of Two Cities." The same can be said of the publishing industry in the Internet era.

"In the 21st century, the Chinese publishing industry, together with international counterparts, has been rushed into this new era of the Internet," said Wu Xiaoping, director of Jiangsu Phoenix Publishing and Media Corporation Limited, at the Chinese-American Publishing &Media Industry Forum held here on Wednesday.

Among the challenges facing the publishing industry, the digital technology is recognized as an important one at the forum, which promotes the communication between publishing professionals of the two countries on the development of the industry chain amid a changing environment.

"There is no doubt that the digital era of the Internet poses unprecedented challenges to the traditional publishing industry," Wu said. "We all feel the impact."

"However, in contrast to a pessimistic stand that some of my peers take, I think we should shed a positive light on this challenge. That is, digital technologies will be a new engine driving the future development of the publishing industry," he added.

"In the field of digital publishing, a perfect match between content and technology not only enriches the forms in which the content can be presented, but also provides comprehensive solutions to the clients. And no wonder many technological giants, like Baidu.Inc of China and Googleof the United States, can enjoy a head start in digital publishing," Wu said.

Tom Allen, president of the Association of American Publishers, agreed with Wu. "Embrace digital, but don't give up on print," Allen said.

Also at the forum, the Chinese publishing authorities pointed out the opportunities enjoyed by the publishing industry in China.

Together with the country's rapid economic and social development, the purchasing power of the Chinese people for published works is also increasing, offering an enormous opportunity for China's publishing industry, said Wu Shangzhi, deputy director of the State Administration of Press, Publication, Radio, Film and Television.

"In 2014, the per capita GDPof China reached over 7,000 U.S. dollars and the consumption structure also changes, with a growing demand for cultural goods," the deputy director said.

The forum themed "Development of the Publishing and Media Industry in the Internet Age" is a major event of the ongoing BookExpo America (BEA) 2015.

According to Allen, E-book revenues have been growing significantly over the past years, and now there is still growth but it is leveling up.

"Mr. Wu Shangzhi said earlier today that there were 6,000 copyrighted works that came into China from other countries, and only 1,000 copyrighted works that went in the other direction. My reaction was that the opportunities are enormous for Chinese publishers to expand their reach into overseas markets," Allen said.

BEA 2015, the largest annual book trade fair in the United States, is held at the Javits Convention Center in New York City from Wednesday to Friday.

The expo, which dates back to 1947 and was then known as the American Booksellers Association Convention and Trade Show, is usually held in a major U.S. city in late May or early June. It offers the largest selection of English-language titles and is also the largest gathering of booksellers, librarians, retailers and book industry professionals in North America.

China, an emerging power in the international publishing industry, has been invited as the guest of honor for BEA 2015's Global Market Forum (GMF) program, which features three full days of education sessions, exhibits and off-site cultural events.

"When American publishers go to China and freely publish works about the United States, Chinese people understand America better; when the Chinese publishers that are here publish in the United States and the Americans read those books, they will understand China better. And that will result in the strengthening of the relationship, so I thank the organizers for choosing China," said Steve Orlins, president of the National Committee on U.S.-China Relations.

Delivering a great part of his speech in fluent Chinese, Orlins closed his remarks with a quote from Confucius, "everything is inferior compared to reading," which he recited first in Chinese and then in English.

BEA has been held in New York City for seven consecutive years since 2009, while its GMF program has featured Spain, Italy, Russiaand Mexico as guests of honor since 2010.

The book fair is scheduled to move to Chicago next year and Poland is taking over as the next GMF guest of honor.