China: The Ministry of Industry and Information Technology (MIIT) has reported net profit growth for the entire domestic cement sector of 20% year-on-year to US$26.6m in 2019 from US$22.3bn in 2018. Total revenues reached US$144bn, representing an increase of 13% from US$128bn. Xinhua China Economic Information Service has reported that the MIIT attributed the profit growth to a reduction in overcapacity throughout the year due to supply-side structural reform. /Global Cement