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

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.

Read more at: http://www.miningweekly.com/article/chinas-economic-shift-faster-than-initially-thought-bhp-2016-03-01

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