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On August 12, a reporter from Nandu learned from the Zhejiang Provincial Market Supervision Bureau that Zhejiang recently released the provincial advertising industry high-quality development index, which comprehensively evaluates the development of the provincial advertising industry from five dimensions: entity vitality, scale strength, innovation capability, environmental dynamics and contribution efficiency.

The index shows that in 2023, the overall index of high-quality development of Zhejiang's advertising industry reached 136.07 points, an increase of 15.24 points over the previous year, an increase of 3.59 times that of the previous year, and the growth rate was 3.51 percentage points higher than the national advertising industry development index.

It is worth mentioning that in 2023, Zhejiang Province’s advertising business revenue exceeded the 150 billion yuan mark for the first time, reaching 156.175 billion yuan, an increase of 29.21% over the previous year, ranking second in the country, making it the fourth province in the country with a total advertising business revenue of over 100 billion yuan.

With the widespread application of big data, artificial intelligence, cloud computing, the Internet of Things and other related technologies in the advertising field, Internet advertising has grown exponentially, the online live broadcast economy has increased rapidly, and "advertising + new models" such as e-commerce, short videos, and live broadcasts have risen strongly. Digital advertising has become a new engine to promote the development of the advertising industry.

Data shows that in 2023, Zhejiang Province's digital advertising business revenue reached 116.913 billion yuan, accounting for 74.86% of the province's total advertising business revenue, an increase of 12.45 percentage points over the previous year. Internet advertising publishing business accounted for 86.37% of all types of publishing business.

According to the Zhejiang Provincial Market Supervision Bureau, diversification, digitalization and intelligence are becoming a major trend in the development of the advertising industry in Zhejiang Province. Advertising companies in Zhejiang Province continue to expand and extend advertising channels, and digital display forms such as live marketing, Internet celebrity traffic, and virtual reality have become mainstream.

For example, some companies continue to deepen their diversified businesses, providing customers with various services such as Qianchuan advertising investment and broadcasting, live broadcast room traffic, content production and operation, brand promotion, and online business operation, and advertising business revenue has increased exponentially.

In terms of policy guidance, a relevant person in charge of the Zhejiang Provincial Market Supervision Administration stated that with the effective implementation of industry norms such as the "Ten Do's and Ten Don'ts" Compliance Operation Guidelines for Internet Advertising Enterprises in Zhejiang Province and the "Zhejiang Advertising Industry Park Recognition Management Measures", the province's advertising industry credit evaluation system is becoming increasingly perfect. Government departments across the province have issued policy opinions to support the development of the advertising industry, the number of local advertising supervision systems, and the number of local advertising industry self-discipline norms have increased to 88, 149, and 107 respectively, providing strong institutional guarantees for the healthy development of the advertising industry.

Written by: Nandu reporter Li Ling, correspondent for City News