Shanxi Issues New Document to Support New Material Industry
Click:461    DateTime:Oct.22,2019

On September 30, Shanxi issued Action Plan for High-quality Development of New Material Industry (2019-2021) to help new material enterprises expand scale, improve product quality, extend industrial chain and strengthen core competitiveness.

   Main business income of new material producers in Shanxi was up 9.5% YoY to RMB115.3 billion in 2018. Industrial added value of the new material industry was up 11.4%, accounted for 1.5% of that of Shanxi’s enterprises above designated size (1.4% in 1H 2019) and took up 15.1% of that of strategic emerging industries. In the first half of 2019, the new material industry in Shanxi achieved RMB59.93 billion in operating revenue.

   The plan highlights five characteristic areas – advanced metal materials, new chemical materials, new inorganic nonmetallic materials, leading edge materials and new bio-based materials. Shanxi is to increase the number of new material enterprises above designated size by around 50 by the end of 2021, when 10 firms are to make their own main business income exceed RMB5 billion, and two or three firms exceed RMB10 billion. In key subdivision fields, over 50% of products are to be advanced in China, and more than 20% are to reach or approach advanced world standards, both at the end of 2021. In addition, annual sales revenue of the new material industry in Shanxi is to exceed RMB150 billion, with an average annual growth rate of around 10%.