Top miner BHP reckons China's economy poised to improve: Bloomberg

NEW YORK, Aug. 23 (Xinhua) -- BHP Group, the world's biggest miner, has offered some optimism on China's efforts to reboot its growth and stabilize the property sector, Bloomberg has reported.

Workers weld at a workshop of an automobile manufacturing enterprise in Qingzhou City, East China's Shandong Province, Feb. 28, 2021. (Photo: Xinhua)

"China's infrastructure and automotive sectors are 'already responding to policy support,' although a rebound in housing activity is expected to take longer," the news agency cited the company last week.

"The world's No.2 economy will be a source of stability in the coming year and 'perhaps something much more than that' if property activity recovers," it said.

The company also flagged weaker growth in other key regions stemming from geopolitics and COVID-19. "This is particularly evident in advanced economies, as central banks pursue anti-inflationary policy and Europe's energy crisis is an additional source of concern," it added.