The China Polyurethane Industry Association (CPUIA) has formulated its latest five-year plan for polyurethane. Jane Ho highlights the key points in the document.
China aims to become a much more competitive power in the world of polyurethane by the end of its next five year plan in 2020.
The country wants to become much more self-sufficient in materials and technology. It wants the companies operating across many of the PU sectors to become larger with western quality levels.
Western firms will take note of the plan’s goal to take “concrete measures to promote consolidation of the sector to prevent control over the China market by overseas giants.”
China’s Communist Party sets the direction for the country’s economic development through five-year plans. These are more than simply an economic wish list. The party plays a leading role in establishing the foundations and principles of Chinese communism, mapping strategies for economic development, setting growth targets, and launching reform.
The first five-year plan ran from 1953 to 1957, and the one which starts in 2016 is the thirteenth it outlines the direction that the China Polyurethane Industry Association (CPUIA) and the state controlled Chinese polyurethane firms think that the industry should take up to 2020.
The ultimate goal in the plan is that China wants to increase its total PU industry capacity from 10m tonne/year in 2015 to 15m tonne/year by 2020. That would mean its production…