GUANGZHOU, China, April 10, 2022 /PRNewswire/ — The 131st Canton Fair will be held online from April 15-24. The top trading event in China is once again ready to open its arms to the world.
China’s “Two Sessions” have already concluded in Beijing, yet topics on the innovation-driven development strategy are still much discussed among China’s chemical industry. As a pillar of the national economy, China’s chemical industry is large in scale, long in the industrial chain, concentrated in capital and technology, and massive in driving effect. However, the demand for high-end chemical productions, pronouncedly the new chemical materials, has greatly outrun the supply, making China dependent on imports of superconducting chemical materials featuring high strength, high heat resistance, high ultra-purity, super-fine, high wear resistance.
Thanks to the implementation of the 14th Five-Year Plan Development Guideline for Petroleum and Chemicals and the Long-Range Objectives through the Year 2035, China’s basic chemicals industry reaches a tipping point for crucial changes, and high-end, green chemical products become a new trend. A number of key technologies for new chemical materials and high-end chemicals, such as POE and environmental-friendly catalysts, have been developed and obtained patents, breaking foreign monopolies.
The Canton Fair is a world-renowned comprehensive trading event, bringing together Chinese chemical brands and global buyers. The past sessions have witnessed a large number of transactions on high value-added chemical products, special products and brand products, such as silicone, adhesives, special coatings, and plastic products, which buyers favor. Chemical manufacturers with strong R&D and innovation capabilities are thriving with considerable turnover.
Accelerated industrial upgrading is also bringing new opportunities to China’s chemical industry. According to CINIC, China’s petrochemical industry reported a revenue of RMB14.45 trillion in 2021, up 30% year-on-year; total profits of RMB1.16 trillion, up 126.8%; total imports and exports of US$860.08 billion, up 38.7% compared with last year.
Maggie Pu, Deputy Director General of the Foreign Affairs Office of the Canton Fair, says that Canton Fair has been promoting “Intelligent Manufacturing in China” to the international arena. As with the “Carbon Peak and Carbon Neutrality” strategy, this year’s Canton Fair will continue to encourage chemical exhibitors to showcase more of their latest “green chemicals” and “high-end intelligent” products, enabling global buyers to share opportunities in China and benefits of green development.