China's Internet advertising market hit 13.8 billion yuan (about 2.17 billion U.S. dollars) in the third quarter, according to a report released Friday in Beijing.

The figure shows a 22.5 percent quarter-on-quarter increase, and an 83.1 percent increase compared to the same period in 2010, said the report released by Beijing-based Analysis International, a leading provider of information products, services and solutions for China's Internet market.

Internet advertising in China also experienced a structural change in the third quarter. Keyword advertising continued to surge, and led market shares by making up about 38.5 percent of Internet advertising revenues in the third quarter, said Dong Xu, an analyst with Analysis International, said.

"In terms of China's entire Internet advertising market, more companies have started to allocate more of their advertising budgets toward Internet search advertising, which performs well," said Dong.

Moreover, brand advertising and new advertising forms, including video and interactive advertising, also saw steady growth in the third quarter.