China’s surging construction sector is showing no signs of slowing as urbanisation spreads inland from big coastal cities, says the chief executive of Kone, one of the world’s biggest makers of lifts and escalators.
Matti Alahuhta said Chinese government efforts to cool the country’s property market were moderating growth in hot spots such as Beijing and Shanghai but construction activity was continuing to accelerate in smaller cities and more westerly regions.
“Our order intake was very strong in China in the first quarter and we expect growth to continue throughout the year,” he told the Financial Times, highlighting affordable housing as one of the main sources of demand.
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