CCTV advertising: Indicator of China's overall economy

For years, the advertising income of CCTV's prime time programs has been considered an important indicator of the overall Chinese economy. CCTV reporter takes a closer look at the prime time advertising auction.

Tuesday morning, hundreds of local and international companies willing to spend on television advertising in 2010 gathered at CCTV's Media  Center.

Tuesday morning, hundreds of local and international companies willing to spend on television advertising in 2010 gathered at CCTV's Media Center. Tens of million of yuan were spent during the auction. They paid for prime time advertising during CCTV's famous traditiional Chinese new year's gala, World Cup coverage and weather reports.

Sheng Reisheng, Brand Advertising Manager of China Ping An Insurance said "CCTV is a very important platform for our marketing and branding. We focus on this platform because we have seen success from it. We are happy about what we get at the auction. "

Xu Xinjian, Chairman of Sunrain said "During the 2008 auction, confidence was low because of the financial crisis. But we made an important decision and seized the opportunity to advertise during prime time on CCTV. We were the first company in our industry to do so. Then we grew by 80 percent this year."

Sunrain is China's biggest solar water heater maker. It purchased a few prime time advertising spaces for 220 million yuan for 2010.

China's economic growth looks to exceed its annual target of 8 percent this year and is expected to at least maintain that figure in 2010. Companies may have to spend more to get a place on CCTV.

Because CCTV has more than 20 channels, the auction is still going on.