Economy
China needs to do more to step up to world level
By Huang Zhiling (China Daily)
Updated: 2010-05-07 14:17
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The country must increase investment to develop new materials and products
CHENGDU - China has made great steps in the research of new materials in its chemical industry since it adopted reform policies in the late 1970s.
But it still has a way to go to catch up with the advanced world level, deputies told delegates at the two-day 3rd International Advanced Materials (Chengdu) Summit which ends on Friday.
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Overseas participants listen attentively at the Global Advanced Materials Industry Development Conference on Thursday. The conference is part of the 3rd International Advanced Materials (Chengdu) Summit held from Thursday to Friday. [PHOTOS BY HUANG ZHILING / CHINA DAILY] |
The country has progressed considerably in the research of new materials in the chemical industry thanks to investment for major laboratories and research centers by the State, said Gu Xiulian, former vice chairwoman of the Standing Committee of the National People's Congress.
According to Li Yongwu, president of China Petroleum and Chemical Industry Association, the output value of the country's new materials in the chemical industry surpassed 100 billion yuan ($15 billion) last year.
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Ren Jianxin, president of China National Chemical Corporation, said that domestic enterprises involved in new materials in the chemical industry offered only a limited number of products and product varieties were limited too, which could not satisfy domestic needs.
In addition, many redundant projects in the industry have been built, which is a great waste of resources, he said.
Ren's company - ChemChina, is committed to a long-term strategy of developing new materials and specialty chemical products.
