P&G holds board meeting in Beijing

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[Beijing] Reflecting China's growing importance, Procter & Gamble Co. held a corporate board of directors meeting in Beijing in mid-April. In addition to the regular agenda, the board visited local stores, popped in on Chinese consumers in their homes and A.G. Lafley, P&G's chairman of the board and president-CEO, was interviewed on China's national TV network CCTV. China's fast-growing economy is P&G's sixth-largest market, up from 10th place just three years ago, and P&G is by far China's largest advertiser, spending an estimated $404 million on media in 2002, according to Nielsen Media Research. "Based on China's rapid economic growth and P&G's current momentum, we expect China's business share to substantially contribute to P&G's global growth over the next several years," said Mr. Lafley. P&G holds a half dozen board meetings a year, one of them outside the U.S.
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