The new entity enables Dow Jones to sell ad services in remnimbi, opening the doors to local businesses previously deterred by having to pay in US dollars. "That provides convenience for clients and agencies," said Winnie Wong, MD of the AWSJ.
Jonathan Hardy, MD of Greater China, Dow Jones International Marketing Services, also becomes GM for the new firm, Dow Jones Advertising (Shanghai).
Alex Abplanalp, China CEO of ZenithMedia, described the move as smart as financial adspend is set to grow significantly in China.
"In addition, as more international companies move their regional headquarters to Shanghai, pan-regional media budgets will increasingly be planned and bought from the China market," he added.
