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China encourages more chemical R&D

Posted on May 12th, 2017 by in Chemical R&D

China's chemical industry

Despite making strides in recent years, China still feels far behind developed countries in the world in terms of their overall capability and level of technology innovation. But how will the Chinese government turn from a big chemical country into a great chemical power? With R&D innovation as a key driver.

Their latest Five-Year Plan, which spans from 2016 to 2020, emphasizes goals for innovation that include:

  • Improving the traditional chemical industry by focusing on reaching conservation and emission standards, and upgrading marketing and ecommerce
  • Building new chemical plants within chemical parks to enhance innovation and synergies; and
  • Enhancing innovation to establish a number of chemical companies as global leaders in the industry

In order to help implement the plan, the government expects to enact regulations, financial incentives, incentives for innovation, GDP goals and to hire staff support.

To learn more about China’s Five-Year Plan and its impact on the chemical industry, read our white paper “China’s Chemical Industry: Moving Towards Basic Research.

Click on the fact sheet to view the PDF.


 

All opinions shared in this post are the author’s own.

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