Despite the austerity measures brought by the Chinese government to control speculation property trading activities, sales revenue of Anhui Conch Cement Group which is the holding company of Anhui Conch Cement of Hong Kong rose by 70 per cent for the first five months of 2005 comparing with the same period of 2004.
The National Development and Reform Commission (NDRC) indicated that fixed asset investment in the whole cement industry had slowed down by about two per cent in the first five months of the year. The industry will continue to see consolidation amid the austerity measure. Net profit achieved by the whole cement industry dropped by 76.5 per cent to RMB1.75 billion in the first six months of 2005. The whole cement industry produced an accumulated 456Mt of cement in the first half of the year, up by 7.4 per cent comparing to the first half of 2004. The growth, however, was 10 per cent weaker than that of last year. Export sales of cement reached 57Mt, a growth of 268 per cent comparing to the first five months of 2004. 
Advertisement