The World: Hong Kong - Banking groups spearhead growth in adspend

Advertisers in Hong Kong spent $1.5 billion in the first half of 2008, a 17.3 per cent increase year on year, according to latest research.

Banking, pharmaceuticals and toiletries remain the top-spending industries. The banking sector saw a 46 per cent year-on-year jump in adspend to $166 million, following campaigns for credit cards and personal loans.

HSBC has taken over from PCCW, the telecoms giant, as Hong Kong's biggest advertiser.

TV and newspapers still account for more than half of Hong Kong's total adspend.

Hang Seng Bank and Bank of China are also among the top 10.