In the company’s news Friday,
China Runji Cement Inc. announced that the Company has prospered from the government’s 2010 rural economy stimulus policy, with the price of cement clinker rising $1.46 per ton, or $245,973 extra per month based on current output of 5,600 tons per day.
The Central Committee of the Communist Party of China and the State Council issued the first policy document aimed at investing in and subsidizing rural areas, with particular emphasis on allocating budget resources and fixed-asset investments toward rural agribusiness infrastructure that will improve the overall livelihood of rural areas.
Local provincial governments were set the task of outlaying funds to rural citizens for the purposes of modernizing and constructing housing, part of the Chinese government’s sweeping attempt to facilitate the over-900 million villager population, resulting in a boon for construction material producers like CRJI throughout the 2010 fiscal year.
Chairman and CEO of CRJI Mr. Zhao Shouren thanked the policy for increasing sales volume and profitability, leading to the maintenance of full production capacity even in what is typically off-season, which incorporates Chinese New Year, the long holiday in February.
Mr. Zhao Shouren noted that the rural market was becoming one of the Company’s leading concerns, anticipating a growing sales volume to rural areas moving forward, and he has instructed the marketing department of CRJI to adjust efforts accordingly in hopes of capturing more of this hearty market in order to “create more value for our shareholder and investors”.
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