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Mengniu tops big spenders at CCTV auction
by Benjamin Li
19-Nov-09, 17:50
BEIJING - China Mengniu Dairy, the largest liquid milk producer on the mainland, was the top bidder at the CCTV auction yesterday in Beijing, splashing out Rmb 343 million (US$50 million), according to GroupM.
Mengniu was followed closely by Heilongjiang Feihe Dairy Industrial Company, which spent Rmb 311 million. Other big spenders included Gree Air Conditioner (Rmb 303 million) and Chinese electronics giant Midea (Rmb 261 million).
Procter & Gamble, the top-ranked multinational and the leading bidder in previous years, dropped into fifth place on Rmb 256 million.
It emerged this morning that CCTV's revenues from the auction topped Rmb 10 billion for the first time, rising 18.5 per cent on last year.
Mengniu Dairy Group secured primetime advertising around CCTV's popular drama series in the first half of 2010.
Zhao Yuanhua, vice-president of Mengniu Dairy Group, told CCTV.com: "CCTV is a platform that large enterprises are willing to choose. I trust its brand power. So we always attach importance to this platform."
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