Xinhua
BEIJING, (Xinhua) ,/Flowerbudnews: – China’s Internet advertising saw revenues surge 33.4 percent year on year to 719.06 billion yuan (101.19 billion U.S. dollars) in 2023 with the business highly concentrated in metropolises, a survey has shown.
The number of major business entities providing advertisement services stood at 17,000 last year, with their gross revenues reaching more than 1.31 trillion yuan, up 17.5 percent year on year, according to a survey of the State Administration for Market Regulation, China’s top market regulator.
The rising revenues demonstrated the vitality of the consumption market and the confidence of corporate investors, said the survey.
The survey also showed that Internet advertising, among all forms of ads publishing, saw robust growth, accounting for 82.4 percent of the ads publishing business.
Meanwhile, the metropolises of Beijing, Shanghai, Hangzhou, Shenzhen, and Guangzhou were the five “advertising hubs” in China. The five cities accounted for 74 percent of the nation’s gross ads revenues, according to the survey.
