Beijing’s World Media Summit - what exactly is it?

Yesterday after I saw few world news agencies news reports (for instance) about a currently held in Beijing so-called 'World Media Summit' I felt amused...
If that's not part of China's grand strategy using 'soft power' to enhance its aspirations for influencing“global public opinion” then what is it?!
(And the timing of this summit, just days after the gargantuan military parade. What a joke! )

Today I saw David Bandurski's article at China Media Project and he seems to be also thinking pretty much the same as me...

He rightly points out: "This “summit” may be dressed up as a platform for professional, “non-government” exchange — but it is really a naked ploy by the CCP to enhance China’s global influence over media agendas. "

And that's that. Hm shouldn't other people start getting the message already?!
Shouldn't all this be worrying them?!

Global media groups knuckle under to curry Beijing’s favor (China Media Project)

UPDATE from 13th:

How Much Will Global News Outlets Bet on China?(TIME)
Key paragraph is the last one :"At a time when media are still reeling from the economic downturn and the Internet-led destruction of traditional advertising and subscription models, China has money to spend and offers new markets for foreign media. The risks are high. Not only could Western media players miss out on a big deal in China, they could sell their soul to win one. "