Beijing : VisionChina Media Inc., one of China’s largest out-of-home digital television advertising networks on mass transportation systems, today announced that the company has successfully signed a 16-month contract with Guangzhou Metro TV Media Company (“GMTM”) to add the new Metro Line No. 5 to the Company’s existing subway network in the city of Guangzhou upon the opening of that line on January 1, 2010. VisionChina already holds exclusive rights to operate on all existing subways in the city of Guangzhou as well as on the platforms that service the subway system.
Line No. 5 will serve as a main artery and operate though the downtown area of Guangzhou. Including the new line, the Guangzhou subway system will feature a network of 5 lines covering 150 kilometers of track accessed via 91 subway stations.
Commenting on the Company’s successful bid in Guangzhou, Mr. Limin Li, VisionChina Media’s chairman and chief executive officer, said, “Our ability to add Line No. 5 to our existing subway network in Guangzhou is an important step in our strategic expansion plan. Guangzhou has a large and attractive pool of local advertisers and is also one of China’s four Tier I cities that are important to national and international advertisers alike.” Mr. Li continued, “Additionally, in 2010, Guangzhou will host the 16th Asian Games. This sporting event, second in Asia only to the Olympic Games, is expected to attract millions of visitors of all nationalities. The combination of our leading above-ground bus network and our newly expanded underground subway network in the city of Guangzhou positions us well to explore the vast opportunities presented by the event.”
Guangzhou, the capital city of Guangdong province, has over 10 million residents and will host the 16th Asian Games from November 12-27, 2010. Seventy five percent of subway platforms and stations are located in major business centers and densely populated areas of the city. According to official national statistical data, Guangzhou’s GDP reached RMB 821.6 billion in 2008 and ranked 3rd among all cities in China.