China's news agency leases Times Square ad space

AP News
Posted: Jul 26, 2011 5:47 PM

China's news agency has leased an ad space in the most American of locations: New York's Times Square.

Xinhua (SHIHN'-wah) is taking a spot that used to showcase HSBC at the north end of Times Square. The 60-foot by 40-foot sign will take its place near ads for Coca-Cola, Prudential, Samsung and Hyundai.

The sign is expected to light up for the first time on Aug. 1.

The Chinese news agency has had a presence in the U.S. for decades but has been taking more high-profile steps recently. It moved its headquarters this year to Times Square and last year started a 24-hour English-language broadcast.