China Set to Open it’s Doors to World Advertisers
Via Andrea Coutu an article in China Daily, declaring that China will keep its promise to the World Trade Organization and open up its advertising market by 2005.
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 esch 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.
With 19% of the world’s population in China, this barrier being lifted will likely result in widescale expansion of foreign advertising, and will definitely mean better access to this large market.