Rio Tinto upbeat on China market

Rio Tinto Group, the world's third-largest mining company, sees economic growth in China accelerating in the second half of this year even as the European economic crisis escalates.

"Recent fiscal and monetary loosening should lead to a pickup in growth," Rio Tinto Chief Economist Vivek Tulpule said on Friday in London. "We expect Chinese growth to be above 8 percent this year, despite lower export demand and monetary tightening." The fastest-growing major economy accounted for 31 percent of Rio's $61 billion in sales last year.

Agencies - China Daily