China's building material sector sees profit growth in 2020

BEIJING -- China's building material sector reported steady growth in both output and profits in 2020, official data showed.

Building material firms with an annual revenue of more than 20 million yuan (about $3.1 million) registered combined profits of 487.1 billion yuan last year, up 3.2 percent year on year, data by the Ministry of Industry and Information Technology showed.

Total operating revenue of the companies grew 0.1 percent year on year to 5.6 trillion yuan.

Last year, the sector's output went up 2.8 percent from the previous year, with the output of cement and flat glass increasing 1.6 percent and 1.3 percent, respectively.

China's exports of building materials rose 4.1 percent year on year to $38.75 billion, the data showed.