China’s leading advertising enterprises and public institutions reported strong revenue growth in the first three quarters of 2024, with total revenues reaching 1.13 trillion yuan ($156.97 billion), a 6.1 percent increase from the same period last year, according to the State Administration for Market Regulation.
The growth was particularly notable in internet advertising, which surged by 15.4 percent year-on-year. Traditional media outlets, including radio, television, and newspapers, have been accelerating the digital transformation of their advertising operations, contributing to this rise. Public institutions in these sectors generated 2.37 billion yuan in internet advertising revenue from January to September, a remarkable 75 percent increase compared to the previous year.
The market outlook for the advertising sector remains positive, with businesses showing increased confidence in their development prospects.