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| Advertisements boom up in cities around
China |
China must open its advertising market by the end of 2005, said a
Chinese official here Wednesday.
Wang Zhongfu, Director of General Administration for Industry and
Commerce, made the remarks at the 39th World Congress of the International
Advertising Agency (IAA).
China will keep its promise to the World Trade Organization (WTO) to
open its advertising market, he said.
According to regulations, China was required to permit foreign
advertising companies to set up jointly funded companies in China by the
end of 2003.
The top 10 advertising companies in the world have each set up
jointly-funded companies here with Chinese partners.
The regulations also stipulate that in four years after
China's entry to the WTO, foreign advertising companies can establish
wholly funded branches in China.
Since China's reform and opening up, China's advertising industry has
developed rapidly. The Chinese government has also provided opportunities
for foreign advertising companies to reap huge profits in China, Wang
said.
"Opening the market is also conducive to the development of China's
advertising industry and its exchanges with foreign counterparts," he
stressed.
The departments of Administration for Industry and Commerce will
intensify their fight against false commercials and will guarantee fair
competition in the advertising market, he said.
(Xinhua) | 
Updated: 2004-09-09 11:41