BUSINESS Industry giant hopeful of growing Chinese economy

BUSINESS

Industry giant hopeful of growing Chinese economy

China Daily

16:38, August 17, 2022

An employee works on the production line of an automaker in Xiangyang, Hubei province. [Photo:China Daily]

BHP Group, the world's biggest miner expressed a positive outlook on China's efforts to reboot the country's growth and stabilize its property sector, according to a Bloomberg article on Tuesday.

BHP said China's infrastructure and automotive sectors are "already responding to policy support," although a rebound in housing activity is expected to take longer.

Regarding China BHP expects demand to improve in fiscal 2023. China being deemed the world's number two economy will be a source of stability in the coming year and "perhaps something much more than that" if property activity recovers.

The company flagged weaker growth in other key regions stemming from geopolitics and COVID-19. "This is particularly evident in advanced economies," BHP said.

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