The head of Australian miner BHP has said he sees long-awaited “green shoots” in China’s depressed property market after Beijing unveiled a stimulus package to try to boost the economy.
The world’s largest mining group relies on China’s construction industry to fuel demand for its iron ore and copper, and Mike Henry, chief executive, said there were signs of recovery.
“We’re finally starting to see some green shoots,” he said in a Financial Times interview in Tokyo. “If you look at the parts of the economy that are lagging, it has been consumption and property. Surprise, surprise, it comes back to consumer confidence.”
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