North China's Shanxi province aims to have its new materials sector generate 150 billion yuan ($21.43 billion) in annual major business revenue by the end of 2020, according to a provincial plan for the development of clusters in the industry recently released by the Shanxi Department of Industry and Information Technology. 

The plan outlines the development of 61 major projects and 15 key companies. Officials said there will also be the establishment of one or two provincial enterprise technology centers, while breakthroughs will be envisioned in five key technologies.

In addition, a series of core technology patents are expected in the fields of semiconductor materials, carbon-based new materials, bio-based new materials and special metal materials.

The 61 major projects -- with a total investment of 84.8 billion yuan -- are expected to have 24.8 billion yuan in funding in place within the current year.

Officials said that 25 of the projects plan to go into full production or be ramping up their operations by the end of this year, to enhance Shanxi's competitiveness in the high-end new materials field.

They said the province will increase special funding support for its technical transformation to drive the growth of the high-end new materials industry, supporting downstream and deep processing industries.

Specifically, the province will build eight industrial output and supply chains with regional characteristics and advantages -- which focus on special metal materials, semiconductor materials, carbon-based new materials, bio-based new materials, high-end fibers and composite materials, inorganic non-metallic materials and new chemical materials.

In addition, Shanxi will further undertake the transfer of new materials industries -- currently located in the Beijing-Tianjin-Hebei region, Yangtze River Delta region and Guangdong-Hong Kong-Macao Greater Bay Area -- by introducing more new materials companies to the province and conducting targeted investment promotions to complete the province's production and supply industrial chain of new materials sector. 

It will also promote in-depth cooperation between new materials enterprises inside and outside the province, to improve the basic capabilities and operations of Shanxi's new materials industry.