China's plate glass industry posts strong growth in 2018

BEIJING - China's plate glass industry performed well in 2018, according to the Ministry of Industry and Information Technology.

The sector's main business revenue extended to 76 billion yuan ($11.31 billion), up 7.2 percent from a year ago, and total profits jumped 29.1 percent to 11.6 billion yuan, the biggest increase in recent years.

The performance was achieved as manufacturers shifted to products of higher value added.

Of the total output of 870 million weight cases last year, the share of plate glass for general construction dropped from 47.4 percent in 2014 to 35.6 percent, while more sophisticated products, such as the glass used in solar panels, saw robust growth in production.

Overcapacity in the sector was also eased as the capacity utilization rate rose to 71 percent.

However, the ministry said the sector still faced downward pressure and the supply-side structural reform should continue.

The industry should channel more energy into intelligent and green manufacturing and foster new growth points in a bid to realize high-quality development, according to the ministry.