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Fuqing forges new economic engine with new materials

gofujian.com.cn | Updated: 2024-04-10

1.jpgThe Jiangyin port area in Fuqing, Fujian province. [Photo provided to gofujian.com]

Seizing on the new materials industry, the city of Fuqing in Fujian province, with its advantageous location and the deep-water port of Jiangyin, is incentivizing local new materials enterprises such as Fujian Kuncai Materials Technology, Zhongjing Petrochemical, and Youyi Group to expand and strengthen themselves, aiming to establish national and even global champions in the field.

It is also working to attract industry giants like Wanhua Chemical Group to drive approximately 5 billion yuan ($691.33 million) in investment projects such as the SIJIA Group Fuqing Material Science and Technology Industrial Park and develop the new materials industrial chain.

Over the past year, Fuqing launched construction on 16 new materials projects with a total investment of 23.6 billion yuan. By 2025, it aims to establish multiple new materials industrial bases, expecting a new materials output value exceeding 100 billion yuan.

The person in charge of the Fuqing Industry and Information Technology Bureau emphasized the city's focus on industrial technological innovation as the driving force behind major innovation projects in new materials. This strategic approach has led to the development of several high-end new material products, resulting in an overall improvement in industrial innovation capabilities and an increase in market share.

The reliance on leading companies to drive the industrial chain is an important feature of the new materials industry in Fuqing.

In 2020, Wanhua Chemical, a leading chemical new materials company, invested in the Jiangyin Gangcheng Economic Zone. Leveraging Wanhua Chemical's Fujian Industrial Park, crucial projects involving the integration of PVC, TDI, and MDI—essential parts of the new materials industry – are underway. Proximity to these projects has benefited numerous enterprises in Jiangyin.

The Jiangying port area also supports the development of the new materials industry in Fuqing. The second liquid chemicals wharf in the port area was recently put into operation, meeting the transportation needs of liquid bulk cargo in the Jiangyin Chemical New Materials Zone.

As the primary driver of the Fuqing new materials industry, the Jiangyin Gangcheng Economic Zone is committed to ensuring the safe and stable operation of the industrial chain. Additionally, efforts are underway to ensure that supporting facilities keep pace with the demand for large projects.

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