The cement industry in China posted a robust 23.1% increase in sales at $57 billion in 2007 with the country's top economic planner forecasting that the yearly net profit would jump 60%.Propelled by the strong growth in fixed asset investment and price increase, total output reached 1.35 billion tonne last year, an year-on-year increase of 13.5%, National Development and Reform Commission (NDRC) said in its latest figures.Fixed investment grew 33% over the previous year after falling for two consecutive years increasing the capacity by 80 million tonne, NDRC said.Cement prices have been soaring since November last year in most of the large and medium cities across China.Large companies accounted for 55% of the total output amidst mergers and acquisitions with the top 10 producers accounting for 23% of the nation's total production, the official Xinhua news agency said quoting NDRC.A capacity reduction of 52 million tonne also happened last year as factories with outdated facilities were closed to increase efficiency and reduce pollution.China's cement exports, however, fell 8.6% to 33 million tonne last year following the export refund cut.
