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BHP Billiton Limited (ASX:BHP) boss Andrew Mackenzie is confident China's new leadership is re-balancing the economy and that demand for commodities will be sustained in the long term.
Mr Mackenzie says BHP is positive enough about growth in its iron ore, coal, petroleum and copper pillars with the possibility of a fifth one being potash.
Mr Mackenzie, who travelled to the UK from China, says he met with the Chinese Premier who was reassuring about the demand for resources.
The new chief executive recently outlined plans to cut BHP's capital spending by a fifth, to $US18 billion by 2014, from a peak of $US22 billion this financial year.
He says the company now wants to cut capital spending to $US15 billion in two to three year's time.
BHP generated a net profit $4.1 billion in the first half of the current financial year.
News: BHP confident on China
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