In an interview on CNBC’s Mad Money, Judy Marks said the property market in China is down 40% from the peak and that is impacting the company’s business. China is a “mature market” versus an “emerging market” for Otis, according to Marks. The modernization/refurbishing of existing buildings will be the fastest growing sector of the company’s business, she noted. “Our story is a service story,” she added.
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