Excess investment in cement sector brought under control,

Excess investment in cement sector brought under control,
Published: 03 November 2006

China’s fixed asset investment in the cement sector dropped by 2.63 per cent YoY to CNY23.2bn (US$2.9bn) for the first eight months  , said a government official..
Zhang Li, an official with the National Development and Reform Commission (NDRC), told an international cement conference, which kicked off here on October 24, that China’s rapid investment the in the cement industry has been curbed and the industry’s structure has been improved thanks to a series of government macro control policies.
China produced a total of 762Mt of cement from January to August, a rise of 21 per cent on the same period of last year, according to latest NDRC data.
NDRC estimates that China’s demand for cement will hit 1.2bn in 2010 and 1.3bn in 2020. 
China’s cement output has been the highest in the world over the past two decades. In 2005, the country’s cement production stood at 1.06bn tonnes, 48 per cent of the world’s total. 
Over the next five years, China aims to strengthen macro control over the sector, upgrade market access standards, phase out outdated capacity and support major cement producers so that they can compete with foreign counterparts on the international market, said Zhang. (CFF)