China's cement industry sees surging revenue, profit growth
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E-mail Xinhua, March 15, 2020
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China's cement sector reported surging growth in revenue and profits in 2019, official data showed.
Its total operating revenue reached a historic high of 1.01 trillion yuan (about 144.2 billion U.S. dollars) last year, up 12.5% year on year, according to the Ministry of Industry and Information Technology (MIIT).
The sector's combined profits surged 19.6% year on year to hit 186.7 billion yuan, also a historic high, said the MIIT.
The ministry attributed the improved profit growth to the sector's continued progress in cutting overcapacity through deepening supply-side structural reform last year.
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