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WPP expects to generate $1bn revenues from China

Far East to become third-largest market for advertising giant after US and UK, ahead of the likes of

Sir Martin Sorrell, the chief executive of advertising company WPP, expects to generate $1bn (£650m) of revenue from China, Taiwan and Hong Kong.

Speaking at a conference in Shanghai, Sorrell said - without specifying a time frame - that he expects the China region to become WPP's third-biggest market after the US and the UK.

The US, the UK, France and Germany are the agency's four biggest markets as of now. But the advertising market in China is likely to expand this year backed by major events such as the Asian Games in Guangzhou and the World Expo in Shanghai, noted Sorrell.

He added that WPP's sales in mainland China increased 7 per cent in the first five months of this year, outpacing growth in the US and Europe.

WPP's agencies include Ogilvy & Mather Worldwide, Young & Rubicam and public relations firm Hill & Knowlton.