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Carbon fibre composite firms ink deals with PRC district

24 Sep '19

1 min read

Pic: Shutterstock

A dozen companies signed agreements with China’s Jinshan district on 15 projects in the carbon fibre composite industry at an industrial summit recently. The planned investment in these projects totals 7 billion yuan ($1 billion). The district is expecting to generate over 10 billion yuan from this sector by 2025, and 50 billion yuan by 2035.

Carbon fibre composite is an advanced material widely used in the automobile, aircraft, power and military industries. More than 10 per cent of materials used in China's first domestic aircraft, the C919, are carbon fibre composite.

Jinshan released 15 new policies at the summit to facilitate the industry's development and a new fund was also established to support carbon fibre composite research and development, according to information on the official website of the district.

Meanwhile, the district will also offer listing consultation services for industry companies looking for opportunities and investments from the STAR market, a US-style exchange for technology companies.

In May, the Shanghai Carbon Fibre Composites Innovation Institute was established in Jinshan. It has been working with Jiao Tong University and the state-owned Commercial Aircraft Corporation of China (COMAC) on new material research. (DS)

Fibre2Fashion News Desk – India