World power

well-informed sources, the International Finance Corporation (IFC) has examined the cement industry, a leading enterprise in Henan Province and is interested in proposals to purchase shares of the company. To support enterprises in the cement industry will soon be delineated, the industry will break the bottleneck in financing the moment, the international financial capital seems not wait to get one step ahead in order to take the lead in access to policy dividends.

since 2003, Henan Province has been fixed asset investment growth rate is far higher than the national average, the demand for the cement industry, providing greater room for growth. It is estimated that only “Water Diversion” project in the 2004-2010 years, annual demand for cement industry in Henan more than 3.5 million tons. Meanwhile, due to a lower degree of market competition, the field of large enterprises have not yet entered the industry more-profitable. In 2005, the national cement industry as a whole downturn, Henan Province cement industry gross profit grew 73.91%; from January to July of this year, total profit is up 331.9%. Therefore, foreign investors salivate cement industry in the province, is hardly surprising.

, but industry insiders believe, IFC choose this time to intervene, however, are their brains. First, eliminate backward production capacity in Henan Province’s policy has achieved initial success for the future development of the joint venture has left market space. In 2005, the Henan Provincial Government has developed three years out of all the machine shaft kiln target by 2007 will be about 400 production lines have been eliminated, as the new dry-process cement releasing 37 million tons of market space. Second, as the leading companies were most likely become a national or major support of local cement companies will lower the cost of shares at this time to share the future of many preferential policies.

view of this, the Government and regulatory policies of the two measures just as foreign investment, reasons. More importantly, the regulation and control, China’s cement industry, grimace scene, people fail to understand why: one side is large-scale foreign investment giant, “staking their claims,” one side is the leading domestic enterprises to expand beyond their grasp; one side is foreign financial institutions have to invest in China cement industry, while domestic banks are tightening, raising the threshold of cement business loans; side of the industrial capital of international mergers and acquisitions in China, plant to expand production capacity, one side is the excess production capacity is to restrict the enterprises to expand production capacity .

In fact, because they had been classified as high-energy, industry overcapacity, after two of China’s macro-control of cement has gone through :1993-1994 regulation to make industry profit from the decline in 1993 to 11.2 billion loss in 1996 2.7 billion; in 2004 to regulate and control so that the overall industry profits down 39%. It is precisely because of over-reliance on administrative control policy of “control” means only to the foreign investors to enter a reason.

cement industry, the intention is to improve the regulation and control policy of industrial concentration, promoting China’s cement industry, industrial upgrading. To achieve this goal, emphasis on the “control” is not only inefficient but also may be invalid. Reporter in Hebei survey found that once the market downturn in the cement have drained when the backward production lines, in this year when the industry and if shops selling warming.

backward production capacity could, “the revival of student”, indicating the market still has room for land. Historical experience tells us that the backward production capacity dominate the market, is nothing less than rely on “price” is a magic weapon. Despite the large energy consumption and backward production capacity, the economy does not scale, stands to reason that the average cost of production should not be less than advanced, but ignoring environmental protection, through tax evasion, depress wages and other means, it has often been able to survive.

Therefore, to eliminate backward production capacity, it is necessary to combat these illegal, take away their shelter. Cement industry, regulatory policy should rely more on “adjustment” - by adjusting the industrial management practices, a unified environmental protection, energy consumption standards, and create a fair competitive market environment and let the market forces driven out of the backward production capacity.

水泥业的政策是面向“转移”而不是“控制”

消息灵通人士透露，国际国际金融公司（IFC）已审查了水泥行业，在河南省的龙头企业，并在建议有兴趣购买该公司的股份。为了支持水泥工业企业将很快划定，该行业将打破目前的融资瓶颈，国际金融资本似乎迫不及待地想领先一步，以率先获得政策红利领先。

自2003年以来，河南省已固定资产投资增长速度远远高于全国平均水平，为水泥行业的需求，提供了更大的发展空间。据估计，仅“南水北调”工程，在2004-2010年，年需求量在河南水泥行业超过350万吨。同时，由于市场竞争程度低，大企业的领域还没有进入该行业更有利可图。 2005年，作为一个整体低迷，河南省水泥行业利润总额全国水泥行业的增长73.91％，从1月到今年7月，利润总额同比分别增长331.9％。因此，外国投资者垂涎三尺全省水泥行业，是不足为奇的。

，但业内人士认为，国际金融公司选择此时进行干预，但是，他们的大脑。首先，淘汰落后的生产在河南省的政策能力已经取得了对合资企业未来的发展留下了初步成功的市场空间。 2005年，河南省政府已制订了三年内的所有机器轴窑的目标，到2007年将约400条生产线被淘汰，因为新的新型干法释放3700万吨水泥的市场空间。其次，由于领先的公司最有可能成为当地水泥企业的主要支持国家或将在这时候调低了股票的成本分担许多优惠政策的未来。

有鉴于此，政府和这两项措施的监管政策，正如外国投资的原因。更重要的是，调控，中国的水泥工业，鬼脸现场，人们不明白为什么：一边是大规模的外国投资巨头“跑马圈地索赔，”一边是国内领先的企业扩展开去把握;一边是外资金融机构在中国投资水泥行业，而国内银行紧缩，提高水泥业务的贷款门槛，对国际兼并和收购在中国，产业资本方工厂扩大产能，一边是生产能力过剩是限制企业扩大产能。

事实上，由于他们被列为高能源，工业产能过剩之后，中国的宏观两个水泥控制，经历:1993 - 1994规范，让从1993年行业利润下降至11.2亿美元的亏损1996年27亿元;到2004年的调控，使整体下跌39％，行业利润。正是由于以上的方法对“控制”的行政管制政策的依赖不仅对外国投资者进入一个原因。

水泥工业，目的是要改善调控政策，产业集中度，促进中国水泥行业，产业升级。为了实现在“控制这一目标，强调”不仅效率低，而且可能无效。记者在河北调查，一旦发现，在水泥市场低迷，耗尽时，落后的生产线，在今年的行业，如果店铺变暖。

落后生产能力可能“，对学生的复苏”，这表明市场仍有很大的土地空间。历史的经验告诉我们，落后产能主宰市场，不外是靠“价格”是一个法宝。尽管能源消耗大的落后生产能力，经济不规模，按理说，平均生产成本应不低于发达，但无视环保，通过偷税漏税，压低工资和其他手段，它往往能够生存下来。

因此，淘汰落后生产能力，是要打击这些非法剥夺他们的住房。水泥行业，监管政策应该依靠“调整”，通过调整工业管理做法，统一环保，能耗标准- ，更创造公平竞争的市场环境，让市场力量驱动的落后生产能力进行。06.9.30