Fine paper is manufactured in a paper machine by feeding stock into a headbox (100) from a short circulation the stock volume of which has been minimized, water is removed from the paper web (W) most advantageously in a gap former (250), in the press section (300) water is pressed out of the paper web (W) in an extended nip press (360), in the dryer section (400) impingement drying (450) is employed for the drying of the paper web (W), the paper web (W) is pre-calendered in a calender (900) employing low nip loads, both surfaces of the paper web (W) are precoated at the same time, after precoating (500) the paper web (W) is dried by means of contact-free drying (660), the paper web (W) is coated in an on-line coating station/stations (700, 800), after which the paper web (W) is at least partly dried in a drying section/sections (750, 850) by means of contact-free drying of the paper web (W), and the paper web (W) is calendered in an on-line calender (900) while the linear load in each nip is regulated separately.