Top Australian officials still bullish on Chinese demand

China's economy looks headed for a soft landing. At least that is what BHP Billiton Ltd and Australia's central bank chief Glenn Stevens are signaling more than 5,600 kilometers away.

As the most China-dependent developed economy, Australia is highly attuned to the ebbs and flows of the world's biggest trading nation. While China's growth has slowed, the best estimate of Australian exporters and policymakers is that housing demand from the migration of rural Chinese to cities will help avert an abrupt further slump in expansion.

BHP, the world's biggest miner, forecasts a moderate recovery in Chinese demand for steel in 2015.