China’s cement industry in the first half of 2019 saw profits advance by 20 per cent to CNY80bn (US$11.6bn), according to China Securities Journal.

Cement output increased 6.8 per cent YoY to 1.05bnt in the January-June period, the highest growth rate in the last five years, as shown by data of the National Bureau of Statistics.

The cement market expansion has been attributed to real estate and infrastructure growth. Fixed-asset investment, including capital spent on infrastructure, property, machinery and other physical assets rose 5.8 per cent in the 1H19. Real estate maintained its rapid expansion by rising 10.9 per cent YoY.

Looking ahead, analysts expect full-year profits to remain steady or even reach a higher level compared with 2018 as profits in the second half of the year are often better than 1H profits. In 2018 total cement industry profits reached CNY154.5bn, a record high.