The advertising market of China has now grown to become the second biggest in the world after several years of expanding quickly, a state official announced on Friday.

Xinhua Net cited head of the State Administration for Industry and Commerce Zhang Mao saying the total annual revenue of the countries advertising companies have jumped past $80 billion (CNY500 billion) in 2013.

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During the opening program of the 43^rd International Advertising Association World Congress in Beijing, Zhang said China is now home to 450,000 advertising companies with over two million people working in the said industry.

In the same ceremony, Chinese State Councilor Wang Yong said advertising is ranked among the top industries in the tertiary sector. He also said the quick expansion of the sector contributed a lot to the economic and social development of the country.

According to a write-up by marketing services provider Mindshare which was posted on WPP's website, China is projected to become the second biggest consumer market by 2015 with a purchasing power capable of buying 14% of the products produced worldwide. Because of its large population of over 1.3 billion, companies from both the West and the East are scrambling for slots in China's business sector.

However, the key to be successful in conducting business in China is implementing large marketing strategies with focus on digital consumerism.

The four areas that consumer brands need to target to enter the Chinese market are online videos, e-commerce, mobile, and social media. However, due to the country's tight regulations, the Web remains the main landing for international brands' advertising campaigns.

E-commerce is one of the most powerful platforms for conducting business in China. The country currently has the second-widest base of online shoppers in the world. In addition, Chinese shoppers love to engage in social media activities while doing their online shopping.

China's mobile Internet user base of 350 million and the availability of smartphones that cost less than $100 make the country a potential leader in the mobile space and a lucrative market for the advertising sector.