From The South Morning China Post, via AsiaMedia:

CCTV growth rate in advertising revenue slowed to reveal ad buyers’ reluctance to spend bulk of budget on network

Intense competition in the advertising market has slowed revenue growth at China Central Television (CCTV) where an auction for next year’s time slots fell short of its six billion yuan target.

Bidding for the slots realised 5.8 billion yuan, representing growth of just 10.8 per cent — down on previous years’ growth. CCTV blamed increased competition from rival television stations.