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WPP expects China revenue to expand 10%
Aggregated Source: Shanghai Daily: Business

WPP expects its revenue in China to grow 10 percent this year to US$1.5 billion, faster than its global growth target, chief executive Martin Sorrell said, with income from new media taking up to 40 percent of the group's overall sales in five years.

The company will fuel growth through local acquisitions, he told Shanghai Daily on the sidelines of an industry conference yesterday.

The group aims to develop new media as a key strategy because Sorrell expects income from the sector to take up 35 to 40 percent of its overall sales in five years. About 20 percent of income in China now come from the digital sector.

China is WPP's third largest market by revenue, behind the US and UK.

WPP, the world's largest advertising company which owns agencies including Ogilvy & Mather and JWT, saw global revenue rise 2.1 percent last year. In April, WPP forecast a global revenue growth of about 3 percent for 2013.

Last month, WPP said it acquired Chinese automotive market research company Sinotrust Market Research. Last year, WPP's Kantar Media bought China's social media consumer research company CIC.

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