China's mining industry is at risk of ‘involution' - an academic term that describes a phenomenon of excessive, self-harming competition - as domestic companies may take fewer risks and innovate less while engaging in intense price-cutting to win market share at the expense of profits, according the head of the country's base metals industry group.
China's GDP growth is expected to rebound to 4.9% in Q4, according to a presentation by Minmetals Economic Research Institute President Jin Zhifeng at the conference. The forecast suggests a full-year expansion rate of 4.9%, slightly undershooting the central government's 5% target.The institute's estimate meshes with projections elsewhere for slower growth in China. The Chinese economy will expand by 4.6% this year and then 4.