As China’s property downturn drags on, foreign companies in downstream industries are revamping their business models to cope with a decline in new construction projects, but the country’s stable policy environment is helping to ease the transition, according to an executive at a leading US supplier.Lift giant Otis is looking for new growth momentum in China’s government-led urban renewal drive, which includes a push to install or upgrade lift systems in ageing apartment buildings, said Judy...