20世纪二三十年代民营报业发行经营受到诸多制约因素的影响，行业环境并没有多大改善。但《申报》、《新闻报》等民营大报加大了自主发行力度，不断借鉴西方报纸发行理念的同时，结合本土报业实际，逐步形成了一套卓有成效的自主发行模式及其经营策略。

Restricted by many factors, circulation of Chinese private newspapers hasn’t been improved radically between 1920s and 1930s. However, drawing lessons from western countries and basing on China’s realities, some private newspapers such as Shen Pao and Sinwen Pao enhanced their self- circulation, and gradually form characteristic self-circulation models and operational strategies of their own.