Based on insights from our team’s recent trip to China, we noted that the country is likely headed for a long economic landing. What does that mean for its infrastructure and commodity sectors?
Infrastructure: High Growth, but Some Challenges
Infrastructure, particularly railways and subways, remains a high-growth sector because of a shortage of cargo and passenger capacity. A key issue from our perspective:state-owned enterprises in the sector need to improve their net profit margins and returns on equity, which can be as low as 2 per cent and the low teens, respectively.
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