By 2015, China´s new material industry will see annual revenue of CNY 2 trillion (US$313.31 billion), with average annual growth surpassing 25%. China will also promote 30 types of new materials in the country, in an effort to grow the industry and stimulate its technology. Major new material manufacturers will be required to put 5% of their revenues into R&D. Ministry of Industry and Information Technology also drafted a list of 400 new materials that the government aims to support.

Source: China Textile Leader