THE Chinese mainland will overtake the UK as its No. 2 market in two to four years for WPP, the world's largest advertising company, its chief executive said.

"I would say China should surpass the UK in about two to three, four years," CEO Martin Sorrell told Reuters yesterday.

WPP employs 12,000 employees on the mainland. The company posted a revenue of US$1.1 billion in the mainland in 2010.

WPP has also set up a school of marketing and communications in Shanghai as education is a vital prerequisite for a city to propel ahead.

"The school is expected to help Shanghai develop a professional, and creatively-talented workforce in this sector," Sorrell said yesterday at the annual meeting of the International Business Leaders' Advisory Council in the city.

"There is a shortage of talent, particularly in the fields of marketing and communications, which is expected to become more acute in the coming years," he added.

The WPP School of Marketing and Communications started in September with 50 students. Sorrell said education is one of the high value-added industries that can help a city to grow. But it is also a "strategic commercial business that needs private investment to spur its growth," he said.

Other industries that may grow vigorously and help Shanghai include sustainable businesses like renewable energy, health care and media, according to Sorrell.
 

Source:shanghaidaily