The total industry production value of China's new material industry is estimated to be RMB 2 trillion in the "12th Five Year Plan"

[China Glass Network] Mr. Yunhu GAO, the Deputy Director of the raw material department of China's ministry of industry and information technology, revealed that, in the "12th Five Year Plan" total industry production value of Chinese new material industry is estimated to be RMB 2 trillion, with an annual growth rate exceeding 25%. By the year of 2020, the new material industry will be a lead industry for the national economy.

Since last year, in accordance with arrangement of the state council department, the industrial and information technology ministry has embarked on the compilation of  "12th Five Year Plan Development Plan of New Material Industry", together with other relevant departments. By far, the planning text has been accomplished and will be published and carried out.

Mr. Gao said, in the "12th Five Year Plan"  period, China will establish stable financial input mechanism, set up particular funds for new material industry development, reinforce support for new material industry, perfect financing and investing guarantee system, as well as encourage and support for private capital investment in new material industry.  

By the year of 2015, China will establish a fully equipped new material industry mechanism with dependent innovation ability and a large scale. By the year of 2020, New material industry will be a lead industry for the national economy, whose products will meet the needs of nation economy and defense.

New material industry is one of the seven strategic new-developed industries, in possession of significant strategic meaning to support strategic new-developed industries, promote transformation and upgrading of traditional industry and protect the national key projects.

By the end of 2010, China's new material industry scale will have achieved 650 billion yuan, with the average annual growth of 20% compared with 2005.

Compared with the developed countries, the overall development level of China’s new material industry is still left behind and confronted with issues to be solved, which reflected in following aspects:

The dependent development of new material is weak and the key new material support capacity is insufficient; industry researches are isolated from each other and industrial development model is deficient; the new material industry is in lack of overall planning and policy guidance, and the fundamental management is vulnerable.