of January 30, the Second Session of the 14th National People's Congress of Xinjiang Uygur Autonomous Region opened in the Xinjiang People's Hall. According to the meeting, the main targets of Xinjiang's economic and social development in 2024 are: GDP growth of about 6.5%; industrial added value above scale growth of about 8%; fixed asset investment growth of about 10%.
It is understood that since 2003, except for individual years, Xinjiang's fixed asset investment has maintained a relatively high growth rate as a whole, with a growth rate of 12.4% in 2023, which is faster than that in 2022. Li Kunming,
China Cement Network Cement Big Data Research Institute, said that in Xinjiang's cement demand structure, infrastructure accounts for 50%, real estate accounts for 35%, civil market accounts for 15%, and infrastructure construction is the main driving force of cement demand. Infrastructure investment accounts for about 37% of the total investment in fixed assets, of which the traditional iron base is the main one. The increase in fixed asset investment will help support local cement demand.
According to the data of cement production in Xinjiang, the cement production in Xinjiang reached 48.1 million tons in 2023, an increase of 25% over the same period last year, due to the substantial increase in the growth rate of fixed assets investment in Xinjiang.
In 2024, the main target of Xinjiang's economic and social development is to increase investment in fixed assets by about 10%. It is believed that with the sustained development of Xinjiang's fixed investment, the local cement demand is worth looking forward to.
