China's advertising market is defying the financial crisis but companies are guarding their budgets warily in a clear sign that confidence in a global economic recovery is still lacking.
In the first four months of this year, total advertising expenditure rose 5.8 per cent year on year to Rmb148bn ($21.7bn), according to CTR Media Intelligence, an affiliate of China Central Television (CCTV), the country's main state broadcaster.
This contrasts with global advertising expenditure, which is forecast to drop by 5.8 per cent this year.
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