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Building Industry to be Upgraded in Five Years
The building materials industry in China is expected to be upgraded in the next five years, with new materials and foreign cash being injected into the sector.
Traditional materials like cement and glass will grow at a slow pace while new building materials and non-metallic materials will grow fast in the 10th Five-Year Plan period (2001-2005), today's China Daily quoted Zeng Xuemin, an official with the State Administration of Building Materials Industry as saying.
China's GDP will maintain a high growth rate in the next five years and the fixed asset investment is expected to increase at double-digit figures, said Zeng.
China is expected to build 1.8 billion square meters of housing annually in the five years. "All this will create a stronger domestic demand for building materials," he said.
China will support the development of cement industry which uses the new dry method and raise this kind of cement production by 20 percent.
The country will also give key support to the development of new wall materials and use them to replace the clay bricks in 160 large and medium-sized cities in three years, Zeng added.
Overseas fund will be mainly used to produce new building materials and equipment to make those materials, he said.
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