(MENAFN) Caterpillar Inc., the American firm which manufactures machinery and engines has come to recognize that China's ongoing transition to slower but better-quality growth will benefit it vastly.
Additionally, the world's 2nd largest economy's pursuit of cleaner air will create business opportunities for the Illinois-based giant, as it can produce a broad range of environment-friendly machines.
In spite the current economic plummet, China is still developing twice as fast as the global average, plus the growth rate of 6.5-7 percent for the next 5 years will require more investment.
"No economy the size of China can withstand and sustain double-digit growth, and the transition to 6.5-7 percent development is definitely very healthy," stated the company's chief executive officer.
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