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Brazilian mining firm Vale buoyant on China's economy

• Monday, January 29, 2024
• Source:ferro-alloys.com

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• Keywords:Brazilian mining firm Vale, China economy

 

[Ferro-Alloys.com]PBrazilian mining company Vale expressed optimism about the growth prospects of the Chinese economy and asserted its strategic position to contribute to China's high-quality development.

 

"Vale remains optimistic about the growth prospects of the Chinese economy and is well positioned to make greater contribution to China's new industrialization and high-quality development," said Tracy Xie, president of Vale China.

 

"China is already leading the energy transformation in the world, and we anticipate that more high-quality flat steel will be sought, which implies an increasing demand for high-quality iron ore."

 

Her comment came as the National Bureau of Statistics said that China's GDP grew 5.2 percent year-on-year to a new high of 126.06 trillion yuan ($17.52 trillion) last year. China's growth not only outpaces the estimated global growth of 3 percent, but also ranks top among major economies, said the NBS.

 

"It's encouraging, yet unsurprising, to see that China posted a robust GDP growth of 5.2 percent in 2023," said Xie.

 

"We are confident that China is much more resilient than many expect."

 

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