China’s acceleration
of its ‘new infrastructure’ plan will support the government’s beneficiation
ambition in the metals industry, boosting production of high-end metals as
opposed to primary metals, industry analyst Fitch Solutions finds in its latest
report.
Despite this being a
long-held strategy as part of the Chinese government’s shift away from
export-oriented growth and the pivot towards domestic consumption, the focus on
high-tech infrastructure has been more concerted in 2020 following a slowdown
in economic activity arising from the covid-19 pandemic as well as heightened
tensions between the US and China, the report reads.
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Fitch predicts this
new infrastructure plan work in tandem with China’s other industrial policies
such as Made in China 2025 and China Standards 2035 Plan – which together
signal China’s ambitious long-term strategy of becoming the global leader in
high-tech and innovative industries of the future.
New infrastructure
projects including 5G networks, data centres and artificial intelligence
systems, together with transport and energy infrastructure, namely
ultra-high-voltage (UHV) technology, charging stations and high-speed rail,
require a substantial amount of metals in their construction, especially
lighter and more advanced metals, Fitch reports.
Source
: https://www.mining.com