Chinese building ingredients' yield declines

(MENAFN) China's Production of construction materials division fell in the eight months to August driven by the ongoing weakness of the property market, based on recent reports.

Cement output slipped 5 percent y-o-y to 15 billion tons, whereas flat glass creation came down 8 percent in the cited period, thus both products faced a price drop.

Meanwhile, to overcome this slowdown, the central bank has cut benchmark interest rates four times since last November and lowering banks' reserve requirement ratio.