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China's ad industry grows 30% on average annually

October 18, 2010 ( People's Daily Online) The average annual growth of China's advertising industry stood at nearly 31 percent and the advertising industry has become one of the fastest growing industries in China, said Liu Fan, deputy director of the State Administration for Industry and Commerce, during the China International Advertising Development Forum on Oct. 17, which is the first activity of the 11th Western China (Chengdu) Exhibition.

The growth ofChina's advertising industry and China's GDP are positively correlated to a significant degree, he said. China's advertising industry currently has entered the golden period of development after experiencing four stages of development.

The annual turnover ofChina's advertising market exceeded 200 billion yuan, and its overall scale ranks among the top worldwide. China's advertising industry now basically possesses the foundation and conditions for sustainable development, Liu said.

"We should also clearly realize thatChina's advertising industry is still at a relatively low level of development because of the low starting point and short history," Liu said.

Currently,China's advertising turnover only accounts for 0.6 percent of China's GDP, whereas it is more than 2 percent in most developed countries.

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