China's building materials sector sees steady growth
BEIJING - The output of China's building materials sector expanded steadily in the first 10 months with growing profitability, official data showed.
Major building materials all posted a rise in their output. The output of cement and flat glass went up by 2.6 percent and 1.3 percent, respectively, according to data from the National Development and Reform Commission. Cement and flat glass, which used to suffer from serious oversupply, have both become more profitable in this period.
The profits of cement businesses rocketed by 123.1 percent, while that of flat glass increased by 40 percent year-on-year.
The data came as the property sector, a major consumer of cement and flat glass, saw growing investment in the first 10 months.
China's real estate investment increased by 9.7 percent year-on-year in the first 10 months this year, according to the National Bureau of Statistics.
