Wednesday, December 17, 2008

Crisis slows production of cement

China's cement production saw a slower growth at 2.8 percent year on year to about 1.27 billion tons in the first 11 months of this year, according to figures released yesterday by the Ministry of Industry and Information Technology.

Experts attributed the slower growth pace to the adverse effects of the deepening global economic crisis and the slowdown in the Chinese economy.

Although the growth rate had been on a downward trend since September, the industrial upgrading process was moving forward, with the total industrial output of cement businesses reaching 456.8 billion yuan (US$66.7 billion) from January to last month, up 21.25 percent on year, said the ministry.

Meanwhile, the ex-factory wholesale cement price gained 12 percent from January to October year on year. The cement industry is set to post a stable growth with the implementation of China's 4-trillion-yuan stimulus package, experts said.

China last month unveiled the package to avert an economic slump, with the funds to be spent over the next two years.

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