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China’s Five-Year Plan for Chemical Innovation
Posted on March 28th, 2017 by Christina Valimaki in Chemical R&D
Covering the years 2016 to 2020, China’s new Five-Year Plan is a road map designed to guide national development, and it includes plans for the country’s chemical industry. Although proud of its success in this sector, China believes that to pursue its goal to be a great chemical power, it needs to improve innovation and technology in several key areas, including specialty chemicals, high-end materials and biotechnology.
The plan highlights five areas that will be specially targeted for local innovation:
- new chemical materials
- new energy
- modern coal chemicals
- environmental protection
- producer services
A fully integrated approach to innovation is suggested, which means promoting partnerships between industry and academia, while also combining basic and applied research.
Additional goals mentioned in the plan include upgrading traditional industries through improvements in areas like marketing and ecommerce, eliminating some enterprises that aren’t meeting energy conservation and emissions standards, and moving chemical assets into existing chemical parks.
Read the article to find out more about China’s plans for innovation, and how regulation and incentives will likely play a role in carrying out those plans.
All opinions shared in this post are the author’s own.
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