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Overseas Investors Encouraged to Develop Building Materials
China is developing its building materials industry by stepping up Sino-foreign cooperation and introducing overseas funds, according to the State Administration of Building Materials Industry.
Overseas funds will be mainly used to produce new building materials, inorganic non-metallic materials, and equipment for manufacturing building materials, said an official with the administration.
The administration is asking overseas enterprises involved to strictly abide by Chinese laws and rules governing overseas investment, and take into account the needs of industrial policies and advice on investment offered by the administration.
The official stressed that the use of overseas funds should take into consideration the industry's product-mix readjustment and environmental protection, and all overseas-funded projects must meet international environmental protection standards.
Overseas funds will be introduced mainly for the production of cement, glass and ceramics, said the official, adding that the country is encouraging construction of large cement projects and technology upgrading in small cement plants. In the production of ceramic toilets, the focus will be on improving product quality.
Moreover, overseas-funded projects should pay attention to technical upgrading in a bid to ensure the sustained development of related technologies in the sector.
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