An executive and two former employees of WPP, one of the world’s biggest advertising companies, have been arrested in China, according to two people familiar with the situation. Greater China, a WPP division that includes Taiwan, made up 5% of the company’s revenue in 2022, according to the firm’s annual report. However, ad spending overall is estimated to have fallen 0.6% last year in China due to COVID-related lockdowns, WPP said. In April, Bain & Co. confirmed that Chinese authorities had questioned staff at its Shanghai office. The following month, Chinese state security officials visited a branch of Capvision, a consulting firm with headquarters in New York and Shanghai.

Source: The Times October 21, 2023 04:08 UTC