Revenue from the new materials industry in China's North Shanxi province is predicted to maintain an average annual growth rate of over 13 percent during the 14th Five-Year Plan period (2021-25) and the annual output value is projected to top 300 billion yuan ($46.99 billion) by 2025. 

The estimates were released at a news conference held by the Shanxi government information office on June 8, to introduce the province's plan for the development of the new materials industry over the coming five years. 

Under the plan, Shanxi will develop a 100 billion yuan-level advanced metal materials industrial cluster and three 50 billion yuan-level industrial clusters for carbon-based new materials, bio-based new materials and semiconductor materials.

In addition, three 10 billion yuan-level industrial clusters will be established for new fiber materials, new inorganic non-metallic materials and cutting-edge new materials. 

The province also plans to help develop more than three companies with international competitiveness and brand influence and more than 10 enterprises each with annual operating revenue of 10 billion yuan in the new materials sector. Also on the drawing board are plans for 10 global industry leaders in specialized areas and 10 small-sized, high-tech specialized and innovative enterprises with annual revenue of 100-400 million yuan in the new materials industry.

By the end of 2025, R&D investment by new materials backbone companies in the province is expected to account for more than 3 percent of their annual revenues.

By then, two or more national-level business tech centers will be built, more than 20 key core and common technologies will be established each year and major innovation achievements will be commercialized and applied to various industries. 

These ambitious plans are against a backdrop of success in Shanxi which has made some remarkable achievements in systems construction, industrial scale and technological progress in the new materials industry in recent years.

Yan Lin, director of the new materials industry division of Shanxi Department of Industry and Information Technology, is bullish about the sector. Yan said that in the fields of special metal materials, carbon-based new materials and semiconductor materials, some products and technologies in Shanxi have been close to leading international and domestic levels.

For example, 21 products -- such as heat-resistant steel, coin steel and axle steel -- now have the largest domestic market share. Elsewhere, third-generation semiconductor silicon carbide single crystal substrate materials are already at the international level, with a domestic market share of more than 50 percent.

"Shanxi will implement targeted policies focusing on key elements such as enterprises, industrial parks, projects, technologies and talent, to develop itself into a vital new materials industrial base and R&D center in China," Yan added.