LINE

    Text:AAAPrint
    Economy

    Building materials sector sapped by overcapacity, weak demand

    1
    2016-02-08 09:15Xinhua Editor: Gu Liping

    China's building materials sector took a hit last year as overcapacity persisted and demand shrank.

    Cement output recorded the first drop for 25 years in 2015, falling 4.9 percent year on year to 2.35 billion tonnes, the Ministry of Industry and Information Technology (MIIT) said on its website.

    Profits of major cement producers plunged 58 percent to 33 billion yuan (5 billion U.S. dollars) last year.

    Output of flat glass fell 8.6 percent year on year to 740 million tonnes, with producers' profits down 12.4 percent.

    In total, the profits of major building materials producers fell 6.9 percent to 449 billion yuan last year.

    The industry still faces serious overcapacity and declining demand, the MIIT said, while forecasting the market would remain depressed as housing investment continues to cool this year.

    The property sector, a major consumer of cement and flat glass, saw annual investment rising merely 1 percent in 2015, a sharp decrease from the 10.5-percent growth in 2014.

    Regulators would advance efforts to trim down capacity in building materials and strictly enforce environmental standards, the MIIT said.

      

    Related news

    MorePhoto

    Most popular in 24h

    MoreTop news

    MoreVideo

    News
    Politics
    Business
    Society
    Culture
    Military
    Sci-tech
    Entertainment
    Sports
    Odd
    Features
    Biz
    Economy
    Travel
    Travel News
    Travel Types
    Events
    Food
    Hotel
    Bar & Club
    Architecture
    Gallery
    Photo
    CNS Photo
    Video
    Video
    Learning Chinese
    Learn About China
    Social Chinese
    Business Chinese
    Buzz Words
    Bilingual
    Resources
    ECNS Wire
    Special Coverage
    Infographics
    Voices
    LINE
    Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
    Copyright ©1999-2018 Chinanews.com. All rights reserved.
    Reproduction in whole or in part without permission is prohibited.
    主站蜘蛛池模板: 平利县| 龙南县| 夹江县| 浙江省| 小金县| 格尔木市| 辽阳市| 东丽区| 蕉岭县| 山西省| 广西| 邹平县| 墨竹工卡县| 拉萨市| 鄂托克前旗| 抚松县| 资中县| 伊吾县| 阿荣旗| 杭锦旗| 恩施市| 巢湖市| 枞阳县| 梅河口市| 田阳县| 沈丘县| 阿拉善右旗| 泰宁县| 台湾省| 泸定县| 郯城县| 印江| 保康县| 伊宁市| 电白县| 阿勒泰市| 修武县| 丰台区| 屏山县| 静宁县| 句容市|