Ye tells the China Daily that he hopes the station will someday provide all-round reports on China to viewers overseas.
"It is a new challenge for me and my group to run Propeller because we have long been concentrating on businesses other than media inside China," he says.
Propeller is broadcast from Yorkshire and all income generated is invested back into the company.
"Many things need to be done in the future, and it is necessary to find good strategic cooperation partners," Ye says. "I believe there is a room for making strong profits if the business is managed well."
Specific programmes will be made in both English and Chinese languages to promote China to the UK.
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