Citic Securities said that with the recent introduction of a combination of policies by multiple departments to promote the real estate market to stabilize, the stability of the real estate industry is also conducive to the recovery of demand for cement and glass industries. Cement supply side, cement into the national carbon trading market progress accelerated, the introduction of the new production capacity replacement policy is expected to speed up 300 million tons of backward cement clinker production capacity clearance, and overproduction phenomenon will be effectively controlled, the actual production capacity will be reduced from 2.1 billion tons to 1.8 billion tons of design capacity. On the glass supply side, under the pressure of industry losses, cold repair capacity has increased, enterprise inventories have declined rapidly, and glass prices have been repaired.