China's new five-year blueprint will create business opportunities and long-term growth for the world's largest construction and mining equipment maker Caterpillar, a senior company official said.

The website ChinaDaily is reporting that China's new five-year blueprint will create business opportunities and long-term growth for the world's largest construction and mining equipment maker Caterpillar, a senior company official said.

Despite an industry downturn in China, Caterpillar sees it as a natural transition and is optimistic about China from a long-term perspective, said Chen Qihua, vice president of Caterpillar Inc. and chairman of Caterpillar China, in an email interview with Xinhua.

Caterpillar's global sales and revenues slumped 15 percent year on year in 2015, partly due to weakening economic growth in China and lower commodity prices, according to the company's annual report.

China's economy expanded 6.9 percent last year, the slowest in 25 years, as trade faltered,property investment cooled and an industrial glut persisted.

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