China will soon unveil the 12th Five-year Plan for the development of the country´s advanced materials industry, Minister of Industry and Information Technology Miao Wei said on September 6th.The text of the plan, which covers the 2011-2015 period, has been completed, Miao said. The government will "exert efforts to push forward indigenous innovations and industrial upgrades, and promote the sustainable and rapid development of the advanced materials sector," he said.

The plan will prioritize the development of six types of advanced materials, including high-strength light alloys, advanced iron and steel, carbon fiber composites, new power battery materials, functional membranous materials, and rare earth functional materials, the China Securities Journal cited an insider as saying last month.

According to the report, the government is aiming for breakthroughs in a series of key generic technologies that are urgently needed, will lead future growth by 2015, and can increase the self-sufficiency rate of key advanced materials to 70%.

Miao said the government will follow market demand, spur innovation and pay attention to environmental protection and energy saving in its efforts to encourage the growth of the advanced materials industry. The integrated development of advanced materials for both civil and military uses will be pursued, he noted.

The advanced materials industry is one of the seven strategic emerging industries China aims to boost over the next five years in its bid to transform the country´s economic growth model.

The government set a target of making the combined value-added output of the seven industries account for 8% of the country´s gross domestic output (GDP) by 2015. "Advanced materials play a significant role in supporting the development of other strategic emerging industries, the upgrading of traditional industries and the construction of major projects," Miao said.

China´s advanced materials industry has expanded at an average annual rate of 22.5% and is expected to grow more than 20% annually in the coming years, according to a report released by Guangzhou-based GF Securities in July.

Calculations covering nanomaterials, rare earth materials, advanced batteries and photoelectronic materials show the total value of China´s advanced materials sector exceeded 130 billion yuan (about US$ 20.3 billion) in 2010, the report said.

Source: China Textile Leader