Caterpillar upbeat about Chinese market: chairman

BEIJING, March 22 (Xinhua) - Caterpillar has expressed confidence in its business in China and said it will continue to adhere to its strategy in the market.

Douglas Oberhelman, chairman of the world's leading construction and mining equipment maker, said on Sunday in an interview that a 7-percent growth rate still looks pretty good, compared with Europe and the United States, and over time the quality of GDP will be "better and more sustainable."

"What we will do is concentrate on our business in China, doing the things we can do best here and elsewhere," said Oberhelman.

Caterpillar has established 29 factories, R&D centers and independent distribution in China. Oberhelman said: "our future strategy in China is much the same as it has been."

Right now, Caterpillar is working on making sure its distribution model supports its costumers and that is what, he believes, makes his company successful outside and inside China.

"We are pretty happy with the state of our investment here today," said Oberhelman, shrugging off concerns that China's business environment is deteriorating.

He said China is and will be the largest construction equipment market in the world as well as a very large mining market. That is very important to Caterpillar.

2015 marks the 40th anniversary since Caterpillar entered China. Recalling his first visit to China 25 years ago, Oberhelman said tremendous changes have taken place.

"I think our concentration that we have seen in the last decade or so in China will continue here," he said. Endi