Building materials sector sees slower rise
Print Edition
CHINA’S building materials sector recorded slower growth in the first four months of this year as a cooling housing market has dashed hopes for rapid expansion, according to latest statistics from the country’s top economic planner.
Cement output grew a mere 4.3 percent from a year ago to 672 million tons in the January-April period, slowing 4.2 percentage points from last year’s growth, according to data by the National Development and Reform Commission on its website.
While the housing market, a major consumer of the country’s cement, flat glass and aluminum, showed more signs of cooling, the cement industry posted a 269 percent upsurge in profits to 9.9 billion yuan (US$1.6 billion) in the first four months.
Investment in the cement sector followed a weakening real estate market with an annual decline of 2.4 percent to 24.73 billion yuan in the January-April period.
The output of flat glass, another sector closely linked with the property market and fraught with overcapacity problems, also rose 4.3 percent year on year to 268 million weight boxes between January and April, according to the NDRC data.
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