Cutting excess capacity in China
CRH
IMF
OneStone Research
NBSC
OneStone Research
OneStone Research
OneStone Research
OneStone Research
OneStone Research
OneStone Research
Anhui Conch
Shandong Shanshui
Huaxin Cement
China Resources Cement
HeidelbergCement
OneStone Research
OneStone Research
Anhui Conch
China’s cement industry is at a crossroads. The gap between cement demand and supply has widened and production, sales, prices and profits have declined. However, cement producers’ cost control and self-discipline have improved and overseas expansion is increasingly regarded as a way to a better future.
1 China’s economic development
According to China’s National Bureau of Statistics (NBSC) the country’s economy expanded at an annual rate of 6.7 % in the first half of 2017. Property investment grew 8.5 % in the first half. Exports grew by 8.5 %, providing a 7.6 % growth of the manufacturing sector. The strong start in 2017 beat all market expectations and the growth rate is above the 6.5 % goal set by the government for the entire year. Figure 1 comprises the projections in the World Economy Outlook (WEO, April 2017) for China and its peers published by the International Monetary Fund (IMF)....
