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JCDecaux Signs 30-Year Outdoor Contract in Beijing
JCDecaux and Chinese outdoor company Beijing Gehua Cultural Development Group have signed a 30-year outdoor advertising joint venture to develop street furniture and other outdoor ad opportunities in Beijing, according to Brand Republic. The joint venture forms a new company, Gehua JC Decaux Outdoor Advertising, and will be equally owned by the two partners.
Gehua JC Decaux has already signed its first contract, a 12-year sales and marketing agreement with Beijing Gehua Sunshine Advertising Company which gives the new entity operating rights to 500 double-faced, large-format newspaper reading stands, already installed in prominent locations in the Chinese capital.
Beijing has a population of 13 million, will host the Olympic Games in 2008, and spent 122 million pounds on outdoor ads in 2004.