SHANGHAI Nov 19 China's state television said
it sold 15.8 billion yuan ($2.5 billion) of advertising spots
for next year, the most in 19 years and up nearly 11 percent
from a year earlier, amid expectations that the economy would
quicken its recovery in 2013.
China Central Television's (CCTV) annual advertising auction
is seen as a barometer for the domestic economy, with ad
spending rising by about one-and-a-half times gross domestic
product growth in each of the past several years.
The auction, which took place in Beijing on Sunday, lasted
about 12 hours and netted gains that were 10.7 percent higher
than the previous year.
Local media reported that Chinese consumer companies such as
China Huiyuan Juice spent over 339 million yuan to
sponsor a popular talent show while herbal tea-maker Jia Duobao
spent 200 million yuan to sponsor another talent show. Gome
Electrical Appliances Holdings spent more than 200
million yuan for two months of advertising.
In recent years, online video companies like Youku Tudou Inc
and iQiyi.com, which is owned by Baidu Inc,
have started competing with CCTV for advertising dollars given
their reach to a younger and wealthier audience.
CCTV typically attracts an older demographic.
China's economy showed further signs of recovery from its
slowest growth in three years as data for October showed
infrastructure investment accelerating and output from the
country's factories running at its fastest in five months.