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Cement production sees slower growth in Jan-Nov

(Xinhua)
Updated: 2008-12-16 20:43

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 on Tuesday by the Ministry of Industry and Information Technology (MIIT).

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

Although the growth rate has kept a downward trend since September, the industrial upgrading process was moving forward, with the total industrial output of cement businesses reached 456.8 billion yuan ($66.69 billion) from January to November, up 21.25 percent year on year, said the MIIT.

Meanwhile, ex-factory wholesale cement price was up 12 percent in the January-October period year-on-year.

The cement industry is expected to post a stable growth with the implementation of China's 4 trillion yuan investment package, experts said.

China last month unveiled a massive 4 trillion yuan stimulus package to avert an economic slump, with the fund to be spent over the next two years to finance low-income housing, rural infrastructure, water, electricity, transportation, the environment, technological innovation and rebuilding from several disasters.