China's building materials output drops in Q1

Output of China's building materials sector fell in the first quarter as the property market remained weak, the country's top economic planner indicated on Wednesday.

Cement output was down 3.4 percent year on year to 428 million tonnes, while flat glass production fell 6 percent, the National Development and Reform Commission (NDRC) said on its website. Prices of cement and flat glasses both dropped in March. Compared with a month earlier, the factory price of cement shed 1.3 percent, and that of flat glass moved down 0.4 percent.

The property sector, a major consumer of cement and flat glass, shows no significant improvement despite policy support.

Of 70 large and medium-sized cities surveyed, 50 saw new home prices dip on a monthly basis in March. Endi