The head of WPP has warned to "be careful what you wish for" when it comes to China, as the advertising giant — which is heavily exposed to the country — reported first-half earnings.
China represents the third-largest market for the company, which is led by CEO Martin Sorrell. Concerns over growth in the world's second-largest economy has led to a crash in Chinese stocks which has caused shockwaves across global markets.
"Be careful what you wish for. It's all in our interests that China continues to grow because it will still be the driver of many industries like our own," he told CNBC on Wednesday.
Sorrell went on to play down the market downturn, saying it mirrored the cyclical growth story across Asia, pointing in particular to the financial crisis that gripped the region back in 1997.
"We've seen the stock market excesses in China, the stock market was overblown. There's been a correction, the economy is under pressure there, [but] in my view it's a cyclical swing."
Like-for-like net sales at WPP rose 2.3 percent in the first half of the year, after reasonable growth across all regions. The company said it expected to hit its full-year net sales target of more than 3 percent.