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Forbes has earned big bucks from entrance fees and sponsor charges in holding the 2003 Forbes Global CEO Conference in the Jinmao Tower of Shanghai, eastday.com reported today.

With each entrance ticket costing US$5,000, Forbes has already collected a record US$2 million in entrance fees from more than 400 business leaders from home and abroad.

Sponsorships from many famous global brands are another cash cow. BMW Group offered 70 sedans for forum officials, UPS provided cargo transport services and six international heavyweights such as the Hong Kong and Shanghai Banking Corporation (HSBC) have offered financial support.

Expanding its brand awareness and tapping the potential Chinese advertising market is the real purpose for Forbes Magazine, which is coming to Shanghai, said Zhang Zhi'an, a specialist in media management at Fudan University.

Forbes Magazine announced to issue its Chinese version of the magazine at the beginning of the year, with its Shanghai-based editorial department starting to recruit staff. It will be the first step for Forbes to tap the Chinese market.

The Chinese magazine ad market has great potential, as only less than four percent of the total domestic media ad revenues are magazine ad revenues. The proportion is considerably higher (13%) in foreign countries, said an industry analyst.

The growth of the Chinese ad industry has topped the list in Asia, with ad revenues expected to reach 100 billion yuan within the coming two or three years, the analyst added.

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