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High-end development highlighted for China’s fine chemical industry

BEIJING: Establishing high-end industrial chains and strengthening core competitiveness are crucial for achieving high-quality development of China's fine chemical industry, and fine chemical manufacturers are encouraged to embrace breakthrough initia...


BEIJING: Establishing high-end industrial chains and strengthening core competitiveness are crucial for achieving high-quality development of China’s fine chemical industry, and fine chemical manufacturers are encouraged to embrace breakthrough initiatives to better navigate the transition, said industry insiders.

According to a report by China Central Television (CCTV), given the structural shortages of high-end products in China’s chemical industry, the Ministry of Industry and Information Technology, along with eight other departments, has recently released an implementation plan for the innovative development of the fine chemical industry (2024-2027). This plan aims to guide the sector towards high-end, green, and intelligent development.

The plan proposes to cultivate more than 500 “little giant” enterprises that apply special, sophisticated techniques to produce unique and novel products by 2027.

It also gives priority to the high-end advancement of the industrial chain and the fostering of essential
competitive advantages.

“We should provide our raw material products for such strategic emerging industries such as new energy, new materials, and industrial machinery. For instance, carbon fibre can be a suitable product for applications in large aircrafts [sic] and new energy materials,” explained Zheng Baoshan, Deputy Director of the China National Petroleum and Chemical Planning Institute.

Meanwhile, the plan aims to promote collaboration and integration among fine chemical companies, specialised equipment manufacturers and software developers. It encourages them to jointly develop crucial equipment, components, and process control software in order to create diversified support systems for production.

“The actual purpose of achieving breakthroughs in key technologies and overcoming challenges in the development of critical products is to effectively strengthen and enhance the supply chain. We will establish an innovative development system that fosters seamless collaboration among large, medium, and s
mall enterprises while promoting coordination between upstream and downstream industries, to drive the high-end, green and intelligent development of the fine chemical industry,” said Li Bin, Vice President of the China Petroleum and Chemical Industry Federation.

Source: Emirates News Agency