Japanese conglomerate Hitachi anticipates a wave of infrastructure spending in China as Beijing tries to turbocharge the economy’s recovery from the coronavirus outbreak.
The group, which makes everything from nuclear power plants to bullet trains, said its elevator factory in China had resumed production and that it expected the construction industry to rebound as cities end their lockdowns.
“These situations create the need for governments to actually get the workforce back and therefore infrastructure spending will rise,” said Alistair Dormer, head of group’s rail and mobility businesses. “All the indications are that China is going ahead at full speed.”
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