CHINA China's building materials sector reports growth in first three quarters

CHINA

China's building materials sector reports growth in first three quarters

Xinhua

09:38, November 09, 2020

China's building materials sector saw positive growth in the first three quarters, according to the Ministry of Industry and Information Technology (MIIT).

People work at the construction site of the Joy City building complex in Wuhan, Central China's Hubei Province, April 28, 2020. (Photo: Xinhua)

The sector's value-added output gained 0.7 percent year on year during the period, reversing the previous downward trend, the MIIT said.
In September alone, the value-added output jumped 8.9 percent year on year, expanding by 2.4 percentage points from the growth rate a year ago, MIIT data showed.
Prices of building materials rose 0.05 percent year on year in the first three quarters, with cement prices down 3.3 percent and that of plate glass up 6.9 percent.
The sector's profits during the period edged down 0.9 percent year on year, almost returning to the same period last year.
In September alone, the total profits of the sector surged 16.4 percent year on year, up 5.4 percent from the previous month.

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