China is one of the fastest growing markets in the world, and one of the largest advertising markets in Asia. In 2003, China's advertising expenditure reached RMB 108 billion, or USD 13 billion. It is about 5 times of the value in 1994.
At the same time, China also witnessed a fast expanding outdoor advertising industry. Based on the data from China's State Administration of Industry and Commerce, the CAGR of outdoor advertising from 1994 to 2002 was about 19%. Currently, outdoor advertising has become the third largest medium after TV and print media, and will play a more important role in the future. It indicates a great investment opportunity for foreign investors and local companies as well.
The overall economic picture for China's advertising industry is optimistic. With an increasingly stronger purchasing power, and with the 2008 Beijing Olympics and the 2010 Shanghai Expo upcoming, China's outdoor advertising will grow at a greater pace.
