Construction Materials. China Building Materials Sector Sees Profit Growth In 2020

China's building materials sector saw steady growth in both production and profits in 2020, official figures show.

Businesses with construction materials and annual revenues in excess of RMB 20 million (about US $ 3.1 million) achieved a combined profit of RMB 487.1 billion last year, up 3.2 percent. more than in the previous year, data from the Ministry of Industry and Informatization of the PRC show.

The combined operating income of these companies increased by 0.1%. on an annualized basis to 5.6 trillion yuan.

Compared to 2019, production in this sector increased by 2.8 percent, while production of cement and sheet glass increased by 1.6 and 1.3 percent. respectively.

Exports of building materials from China increased by 4.1%. on an annualized basis to $ 38.75 billion.

Source: russian.news.cn