Investment craze in electrolytic aluminum checked

The series of measures taken by the central government to strengthen micro control in electrolytic aluminum industry has led to notable effect. The craze of investment in the industry has been checked, said Kang Yi, President of China Non-ferrous Metals Industry Association.

According to Kang, the effect are seen in the following aspects:

-In 2004, the trend of sharp increase of investment in electrolytic aluminum has been checked, and the volume of investment in electrolytic aluminum has been reduced by 4.234 bln yuan. Electrolytic aluminum projects with productive capability of 1.47 mln tons have been suspended, and construction of projects with productive capability of 0.9 mln tons have been delayed.

-China has quickened steps to drop backward electrolytic aluminum. The goal to drop backward electrolytic aluminum projects is expected to be achieved by the end of 2005 basically.

-China has quickened adjustment of industrial structure. A batch of enterprises have been merged and reorganized, which further improves competitiveness of the advantageous enterprises.

By People's Daily Online