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China Market Insider Beijing Views Engineering Plastics as Achilles Heel in Trade War
China wants to reduce its ‘import dependence’ on engineering plastics. This is stated in the new 14th five-year plan of the communist leadership in Beijing, which has its eye on the strategic value of these special chemicals used across a number of domestic industries. Recently, concrete targets for ‘self-sufficiency’ in these materials were published, reports the chemical newspaper Zhongguo Huagong Xinxi Zhoukan.
Beijing/China – According to the '14th Five-Year Development Plan for the New Chemical Materials Industry', the overall self-sufficiency rate for engineering plastics has increased to 85 percent by 2025. For polyester-based engineering plastics, China even wants to become a net exporter by then.
Since former US President Donald Trump started a trade war with China and, among other things, made it more difficult to export semiconductors to China, the Chinese leadership has become obsessed with the topic of self-sufficiency. In addition to the semiconductor industry, a whole range of other ‘future technologies’ such as artificial intelligence, e-mobility and robotics are being promoted even more strongly than before in order to become independent of political blackmail from abroad as quickly as possible.