The 12th Five-Year Plan for the industry of new materials is likely to be released in September, China Securities Journal reported Wednesday, citing an unnamed source.

The new Five-Year plan will launch a series of projects to advance the development of the industry. Although China has a large output of new materials, technologies supporting the industry are lagging behind, industry insiders said.

It is expected that the self-sufficient rate will reach 70 percent for the new materials industry during the Five-Year period. Every sector supported by the projects is predicted to form an output value scale of hundreds of million yuan to several trillion yuan in five to ten years.

The projects will be launched to promote industries including high-strength light alloys, high-performance steel, functional membrane, new battery materials, carbon fiber composites and rare earth functional materials.

Industries of new generation information functional materials, biomedical materials, energy saving materials and green building materials may also be supported, the report said.