Zhou said that carbon fiber is an inorganic fiber with a carbon content of more than 90 percent. It has excellent characteristics such as high temperature tolerance, corrosion resistance and electrical and thermal conductivity. It has wide application in aerospace, sports, new energy and many other fields.

"Xinjiang has broad development prospects in the fields of wind energy, photovoltaics and hydrogen energy. With the substantial growth of photovoltaic wind power demand, the application of carbon fiber in wind power blades and single crystal furnace thermal fields is expected to boost the development of the new materials industry," Zhou said.

With the smooth rollout of the first phase of the project, Runjust is expected to attract various enterprises to support the production of corresponding raw materials, as well as investment in downstream carbon fiber applications in the Urumqi Ganquanpu Economic Development Zone, where it is located.

Ganquanpu is a strategic industrial base that is emerging in Urumqi, said Qian Wenbin, deputy director of the zone's management committee.

"We have policies to encourage enterprises in the zone to purchase from each other and connect the industrial chain into a network," he said. "This is conducive to the agglomeration and development of the industry."

Xinjiang is vigorously developing new energy and new materials and other strategic emerging industries, and further promoting industrial chain extensions, reinforcement and strength around key industries, he said.