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China Predicts More Profit from Glass Fiber in 2000

20 September 2000

China's building materials industry authorities have predicted that the sector will earn about 5 billion yuan (US$604.59 million) in profits in 2000. The production of building materials is forecast to grow about 9 percent in the second half of this year. Statistics from the State Bureau of Building Materials Industry show that in the first half of this year, the industry realized 2.661 billion yuan in profit, 2.471 billion yuan more than that of the same period of last year. Of the products monitored, glass fiber was one that registered more than 15 percent growth. The export of glass fiber went up 11.43 percent in volume and 97.26 percent in value, demonstrating a bright prospect on the international market.