Shanghai will auction the rights of outdoor billboard advertisement slots on Thursday,today's Shanghai Morning Post reported.

　　Advertising space on 138billboards will be auctioned that day,most of which are in prime commercial areas such as Xujiahui,Jin'an Temple and Nanjing Road,according to Shanghai Zhongtian Auction Co Ltd,which is to host the auction.

　　Some of the billboards are located along metro lines and elevated roads,where large number of commuters is likely.

　　A total area of 4,992square meters in billboard space is available,and the combined price will start from 12.3million yuan (US.5million).

　　Zhongtian is optimistic about the auction,saying advertisers are showing huge interest in the event.

　　This is the first auction of outdoor ads slot use ever held in Shanghai,Zhongtian officials said.They believe the event will make local advertising trade fairer.

　　Previously,advertising intermediary agencies bought the use rights of billboards from the owners and sold them to advertisement placers for higher prices,a method analysts say was sometimes unfair.