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MIIT: The New Materials Industry is Expected to Reach RMB 10 Trillion by 2025

Economic Information Daily recently learnt from the Ministry of Industry and Information Technology (MIIT) that in order to further promote the new materials industry in China, it will, from this year on, formulate and introduce a series of industrial promotion policies and measures, including preparing and implementing the key program 2018 of the new materials industry, setting up the Made in China 2025 industry development fund, formulating policies that support the promotion and application of the new materials industry, and initiating and implementing the "key new materials R&D and application" program.

In addition, MIIT will focus on optimizing the development environment of the new materials industry, accelerate the construction of new materials production and application demonstration platforms, test and evaluation platforms, resource sharing platforms, and new materials manufacturing industry innovation centers, complete the industrial system, and improve and give play to the role of industrial expert advisory committees to provide decision support for the new materials industry. MIIT will further deepen military and civilian integration, boost the construction of a military key materials system, and promote the two-way transfer and transformation of new materials between the military and civilian sectors.

In some fields of advanced basic materials, key strategic materials and cutting-edge new materials, China has reached or even surpassed the international advanced level. For example, in the key strategic materials field, Semiconductor Manufacturing International Corporation (SMIC) has achieved domestic purchasing of six out of its top seven consumer materials. Nanshan Group has obtained certification of its aluminum alloy thick plates from Boeing and signed a supply contract with the company. The MW rare-earth permanent magnet motors of China Shipbuilding Industry Corporation (CSIC) are 50% smaller and 40% lighter than traditional ones. The localization rate of key equipment materials in the world's first high-temperature gas cooled reactor nuclear power plant with the fourth-generation nuclear power characteristics has exceeded 85%. Liquid metal has found initial applications in 3D printing, flexible intelligent machines, vascular robotics and other fields.

MIIT pointed out that China's new materials industry shows a good development momentum and will maintain such good momentum with the support of industrial policy. By 2025, the industry is expected to reach RMB 10 trillion and maintain an average annual growth rate of 20%. By 2035, the industry will climb to high rankings by overall strength, basically complete an industrial development system and provide basic support for China to become a manufacturing power in the middle of this century.?