China¡¯s cement industry has grown rapidly since economic reforms commenced roughly 25 years ago, playing a crucial role in the country¡¯s economic development. The industry is highly regulated by the government, and all cement products conform to a numeric standard indicating product type and quality. According to the National Development and Reform Commission (NRDC), the Chinese cement industry had a total output of 1.35 billion tons in 2007 representing growth of 13.5% over 2006. China currently ranks as the largest cement manufacturer in the world, a position it has held successively for the last 23 years. The country has 5,000 cement producers with annual sales revenue over RMB 5 million ($700,000). Fixed asset investment in the Chinese cement industry reached RMB 65.4 billion ($9 billion) in 2007, a 33% increase year over year resulting in 80 million tons of increased capacity. Total aggregated sales revenue in the cement industry grew by 23.1% from 2006 to reach RMB 410.4 billion in 2007 ($57 billion) and The NDRC estimates net profits for the year will jump more than 60% to RMB 24 billion ($3.3 billion) due to increases in both price and output.
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