The plastics industry in China will maintain a 25 percent growth rate this year, and continue to be stable in the future, said Cai Daying, director of the China Light Industry Information Center. He made his forecast during 2011 China Plastics Industry Conference which ended June 2 in Ningbo.

The center’s Report on the Development of the Plastics Industry in China in 2010, stated that there were more than 20,000 above-scale plastics enterprises in China in 2010, which achieved total industrial output value of 1.42 trillion yuan, a year-on-year increase of 31.1 percent.

The report stated that imports amounted to $61.4 billion, a year-on-year increase of 36.9 percent. Total output value reached 314.5 billion yuan during the first quarter of 2011, a year-on-year increase of 30 percent.
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Challenges, according to the report, include  undesirable product mixes, obsolete equipment, backward technology, insufficient research capacity, frequent trade frictions and difficulties in exporting.

Restructuring, scientific innovation, emissions-cutting, brand-building and industrial upgrading should be enhanced during the “12th Five-Year Plan” period to maintain the industry’s growth, the report stated.

Source: China Chemical Information Net