1035 GMT - China's structural economy is embarking on a long-term change, and it will have a significant impact on the commodities market going forward, says Steele Li, vice chairman and chief investment officer of CMOC. China's real-estate sector, formerly one of the country's largest economic drivers, is unlikely to bounce back from a slump that has depressed commodity prices from iron ore to copper, Li says on a panel at the Financial Times Mining Summit in London. Instead, the country needs to find a new engine of a similar size for its economy, and the green transition is likely to be the next long-term big driver, he says. "China will probably lead the way--you can see the massive investment we've made already," he adds. (joseph.hoppe@wsj.com)
(END) Dow Jones Newswires
September 26, 2024 06:35 ET (10:35 GMT)
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