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China's cement industry posts steady growth

China's cement industry posts steady growth

BEIJING, Sept 22 (Xinhua): The production of China's cement industry expanded steadily in the first eight months, data showed. Cement output totaled 1.47 billion tonnes in the Jan.-Aug. period, registering a year-on-year growth of 7 percent, according to the Ministry of Industry and Information Technology (MIIT). In August, the output of cement stood at 210 million tonnes, up 5.1 percent year on year. The sector raked in 542.5 billion yuan (about 76.3 billion U.S. dollars) in revenue in the first seven months, up 16.2 percent from a year ago, while the profit in the period increased 27.2 percent to 99.7 billion yuan. The MIIT said it will promote the industry's transformation and upgrade by focusing on intelligent and environmentally-friendly development. Another report adds; the following are the key moves taken by policymakers in the past week to enhance China's economic strength and sustainability: Greater support for family farms China will intensify efforts to tackle problems restricting the development of family farms, which are engaged in large-scale, standardized and intensive agricultural production and management. Governments at all levels are expected to support the construction of warehouses, ice storehouses and other infrastructures to boost the development of family farms. Preferential fiscal and tax policies will be formulated to support family farms and more training will be introduced. Easier market access with shorter negative list China has cut the number of sectors and businesses that are off-limits for domestic and foreign investors in a revised negative list for market access. The shortened list contains fewer administrative measures on investment and is still subject to approval. Industries, fields and business not on the list are open for investment to all market players. The negative list approach has been proven successful in making market access management more open, inclusive and predictable, as well as in boosting market vitality. Land and space planning system streamlined China will markedly streamline its administrative approval system for land and space planning amid efforts to improve the business environment and governance efficiency. With red tape-cutting reforms on planning permission and land use approval, application materials will be significantly trimmed and approval time will be greatly reduced. The country will also delegate more power from the State Council to provincial-level governments, allowing them to have a greater say in authorizing land and space planning. Chinese authorities on Thursday released 10,000 tonnes of pork from its central reserves to increase pork supply in the market and ensure meat supply for the upcoming National Day holiday. A total of 2,400 tonnes of reserve beef and 1,900 tonnes of reserve mutton have been released into the market at the beginning of September. China is capable of guaranteeing its meat supply with a sharp increase in meat imports and a relatively high level of frozen meat inventory, according to the Ministry of Commerce.

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