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BHP Billiton Confident in China's Sustained Growth
Aug 11,2011 09:10CST
industry news
Source:SMM
BHP Billiton is confident about sustained growth in China despite the worldwide market turmoil, Chairman of the world's biggest miner said on Wednesday.

SYDNEY, Aug. 11 (Xinhua) -- BHP Billiton is confident about sustained growth in China despite the worldwide market turmoil, Chairman of the world's biggest miner said on Wednesday.

Speaking at a business lunch in Sydney, BHP Billiton Chairman Jacques Nasser said the global market turmoil has not changed the company's view of sustained growth in China.

China buys about 30 percent of BHP's exports, and Nasser says the company is positive about China's future.

"China will continue to grow. I was there recently, I walked away believing their focus was right, that we may not see 10, 11, 12 percent growth, but we will see seven, eight, nine percent growth and the texture of the growth may change," he said.

However, Nasser warned that while Australia was not suffering from the chronic economic challenges of Europe and the U.S., there was no room for the country to be complacent.

He said that Australians were concerned about job security, rising utility costs, housing affordability and interest rates, they also tended to be complacent, relying on the country's natural endowments.

"This complacency long-term could prove to be a real threat to our future prosperity and ultimately could result in lower living standards," he added.

Nasser said he was confident about the long-term outlook for the America and Australia.

"At BHP Billiton we are confident about the future of both countries. We believe both Australia and the U.S. offer continuing opportunities on a large scale," Nasser said.

 

BHP Billiton

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