FOCUS: Greater China - Telecom, insurance, banks to lead adspend charge in China

<p>Adspend in China will likely be given a boost this year amid an </p><p>expected new influx of multinational brands following the country's </p><p>entry into the World Trade Organisation (WTO). </p><p><BR><BR> </p><p>Leading the way will be telecom, insurance and banking companies; firms </p><p>which previously were not allowed into China by Beijing in order to </p><p>protect local industries. </p><p><BR><BR> </p><p>Mr Joseph Wang, O&M group managing director for Hong Kong and southern </p><p>China and vice-chairman for China, said foreign brands are preparing for </p><p>the push. </p><p><BR><BR> </p><p>O&M has a large roster of multinational clients, giving it a headstart, </p><p>he added. </p><p><BR><BR> </p><p>Mr Wang also said that China's entry into the WTO would help spur the </p><p>country's economic growth and attract more foreign investment, which in </p><p>turn would energise Hong Kong's economy. </p><p><BR><BR> </p><p>"What we will see is a bright economic future for China even in the </p><p>hinterlands, as more foreign brands enter the market to establish a </p><p>presence and that will energise Hong Kong's economy, as the management </p><p>and infrastructural expertise will mostly come from here," he said. </p><p><BR><BR> </p><p>Meanwhile, O&M Hong Kong has doubled its training budget for 2000 to </p><p>HK$1 million to better equip its staff with its "360-degree </p><p>branding" techniques. </p><p><BR><BR> </p><p>"The concept of integrating advertising with all the below-the-line </p><p>stuff doesn't cut it any more," said Mr Wang. </p><p><BR><BR> </p><p>"We must look at every aspect of a brand's equity: product equity, </p><p>goodwill equity, channel equity and so on, and everything has to be </p><p>coordinated and seamless." </p><p><BR><BR> </p>