BEIJING, Oct. 20, 2009 (Xinhua News Agency) -- VisionChina Media (NASDAQ:VISN) Inc. (VISN.NASDAQ), one of China's largest out-of-home digital television advertising netw orks on mass transportation systems, Monday announced the renewal and extension of its exclusive contract with Hangzhou New & Mobile Media o n continuous operation of the company's mobile digital television adve rtising network on buses and ferries in Hangzhou, the capital city of China's Zhejiang province.
The three-year new contract will become effective on January 1, 201 0 and grant VisionChina the exclusive right to operate mobile televisi on advertisements on all public buses and ferries covered by the mobi le television network operated by Hangzhou New & Mobile Media.
The network currently covers 3,425 buses and 101 ferries, with dail y audience reaching 3 million.
According to Hangzhou City Bureau of Statistics, in 2008, Hangzhou ranked 8th in terms of GDP among all cities in China, with GDP being 4 78 billion yuan, or approximately 75 billion US dollars. The city has a population of over 7.9 million.
