China's new materials industry recorded a year-on-year increase of over 10% in total output value from January to November, with annual output projected to exceed 8 trillion yuan, according to Chang Guowu, Director of the Department of Raw Materials Industry at the Ministry of Industry and Information Technology (MIIT).
From XINHUA
China's new materials industry recorded a year-on-year increase of over 10% in total output value from January to November, with annual output projected to exceed 8 trillion yuan, according to Chang Guowu, Director of the Department of Raw Materials Industry at the Ministry of Industry and Information Technology (MIIT). The announcement underscores the rapid expansion of the sector, which continues to play a vital role in the country's industrial development.
Chang shared these insights during a press conference held by the MIIT on December 17, focusing on how enhanced standards can drive optimization and upgrades in the raw materials industry. He noted that future efforts will prioritize key materials for critical fields such as next-generation information technology and aerospace equipment.
To accelerate innovation and development, the MIIT plans to strengthen collaboration across industry, academia, research, and application sectors. Key initiatives include launching the second phase of major new materials platforms, advancing the construction of a national big data center for new materials, and expediting the development of pilot testing platforms for industrial-scale applications.
The ministry also aims to implement an updated insurance compensation policy for the first-batch applications of new materials, encouraging their adoption and commercialization. These measures are expected to drive the rapid growth of the new materials sector, positioning it as a key engine for China's future economic development.