China's Ad Market Grew 9% to $27.8 Billion in 2008

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Ad spend in China grew by 9% to 189.96 billion RMB ($27.8 billion) last year over 2007, according to China's State Administration for Industry and Commerce (SAIC).

Advertisers spent 50.15 billion RMB ($7.3 billion) on TV commercials, up 13% over 2007 and accounting for 26.4% of ad spending in China. Newspaper advertising was up 6% in 2008 to 34.27 billion RMB ($5.02 billion).

The number of foreign-owned ad agencies in China soared by 27.73% to 737 companies in 2008, but still accounted for just 0.4% of the total number of ad agencies across the country, according to the SAIC.
Source: Xinhua

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