Attention:blinding investing in cement and steel industry


Updated Fri, 25 Jun 2004 00:00:00 GMT

(File No. 103) State Department has already agreed with the files ‘advice on stopping blind investing in cement and steel industry’, ‘advice on stopping blind investing in electrolytic aluminum industry’ and 'advice on stopping blind investing in cement industry’ drafted by reform department and other departments. now we send to everyone, it should be executed strictly.
   Steel, electrolytic aluminum and cement are important raw material. After years’ developing, those industries develop very well. With demand increasing,investment in steel, electrolytic aluminum and cement industry goes up too quickly, production rise so much.Some enterprises can’t resist the profit temptation, ignoring market and resource situation,  build or enlarge steel, electrolytic aluminum and cement projects. So there are many blind investment in the three industries.
   Presently,projects in building in the three industries surpass the anticipant demands.This will result in excess production, disorder competition, wasting resource and polluting environment, further more to financial crisis and other hidden trouble. Local government should pay important attention, should be conscious, and stick to setting market as guiding, follow industry policy and developing programming, with economic, law and administrative strategy, taking effective measure, hold back the trending to repeated the low construction, improve the industry healthily. 
   Local government, each department should clear up investment in cement, inform to State Department by the end of February 2004, State Department would assign special people to check and supervise the situation.