#China’s economic shift faster than initially thought – #BHP | A Blog for Browsing Mining, Mineral Processing, and Metals Info

#China’s economic shift faster than initially thought – #BHP

Posted on March 1, 2016 by Nanthakumar Victor Emmanuel, P.Eng One comment

CEO #AndrewMackenzie told the #BMO Capital Markets conference, in #Florida, that while #China’s economic growth slowed as it matured, the composition of the economy had changed more quickly than initially anticipated, with the services sector replacing an investment- and heavy industry-driven economy. “The strength of the service sector creates employment, which allows acceleration of important structural reforms, including of State-owned enterprises. In the near term, as industrial overcapacity is reduced, this will further constrain demand for commodities.