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WPP's CEO bullish on Chinese growth: BBC

Xinhua, August 26, 2015 Adjust font size:

Martin Sorrell, Chief Executive Officer (CEO) of Britain-based advertisement giant WPP, Wednesday said that he remains a "raging bull in relation to China," delivering his optimism on the prospect of the World's second largest economy.

"I remain a raging bull in relation to China," he said in a BBC's interview program.

He said China has been the biggest driver of the world economy, the country's prospects needed to be seen in the light of "30 years of growth and expansion and the hundreds of millions of people that have been taken out of poverty and moved into a lower-middle or middle class."

He stressed that Chinese economic growth was fundamental to WPP's future.

Data showed that WPP registered a 44.5 percent growth in preliminary pre-tax profit to 710 million pounds (or 1.1 billion U.S. dollars) for the first half of this year, and a 6.8 percent increase in revenues to 5.84 billion pounds. China is the advertisement group's third biggest market, while the United States is its biggest.

WPP owns a host of agencies around the world, including J. Walter Thompson and Ogilvy & Mather. It employs some 179,000 people in 111 countries. (1 pound = 1.56 U.S. dollars) Endit