BEIJING — China's advertisement industry registered rapid expansion in 2021, data from the State Administration for Market Regulation shows.

The combined business revenues of major companies and public institutions in the sector surged 20 percent year-on-year to approximately 1.18 trillion yuan (about $174 billion) last year, exceeding 1 trillion yuan for the first time, according to the administration.

The index measuring the development of China's advertisement industry came in at 110.85, up 7.36 percent from the previous year, according to a report jointly released by the administration and the China Economic Information Service.

Online advertisements have taken a dominant position in China's advertisement market, with revenues increasing year by year. They have offered strong impetus in creating new markets and consumption forms, the data shows.