China succumbs to normality
With the gradual drop in China’s GDP growth to lower-single figures it has been argued that normality has returned to the world’s second-biggest economy. The cement sector has certainly responded by reeling in excess capacity as well as prioritising operational efficiency and higher environmental standards as the government pushes forward industrial reform.
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ICR looks forward to meeting delegates attending CEMENTTECH 2015 in Beijing, China on 27-29 April 2015
While the Chinese economy saw steady improvements in 3Q14, full-year GDP growth slipped to 7.4 per cent, down 0.3 percentage points on 2013 and the weakest growth in a quarter of a century. The IMF has forecast GDP expansion of 6.8 per cent in 2015, a rate which is expected to slow further to 6.3 per cent the year after and mark the start of a longer-term cooling of the domestic economy.