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China's cement industry sees surging revenue, profit growth
Updated: March 15, 2020 14:23 Xinhua

BEIJING — 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 ($144.2 billion) last year, up 12.5 percent year-on-year, according to the Ministry of Industry and Information Technology (MIIT).

The sector's combined profits surged 19.6 percent 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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