China's advertising institutions and enterprises above a designated size booked revenues of 1.12 trillion yuan (about 160 billion U.S. dollars) in 2022, the second most in the world’s advertising markets according to data unveiled at the 30th China International Advertising Festival (CIAF) on Sunday.

Enterprises above the designated size are companies with annual revenue from their principal business of over 20 million yuan.

In the first half of 2023, the top 906 advertising companies and institutions in China raked in about 569.62 billion yuan (about 79 billion U.S. dollars), up 9.0 percent year on year.

Experts say the advertising industry continues to grow, driven by the emergence of new technologies, new formats, and new models which have inspired new levels of creativity and innovation.

The 30th CIAF was held in Xiamen City of east China's Fujian Province from Thursday to Sunday.