China releases joint action plan for raw materials industry

China’s Ministry of Industry and Information Technology (MIIT) and three other authorities have collaborated to release a joint action plan for the raw materials industry, detailing guidelines for improvements in the next three years.

China aims to elevate the industry’s standards to promote higher-end supply, enhance its structure, advance green development, boost digitalisation, and establish a more secure industry system, according to MIIT’s statement on Tuesday.

According to the plan, the assessment and improvement of standards for industries such as petrochemicals, chemicals, steel, non-ferrous metals, building materials, rare earth, and gold will be finalized by 2027.

By 2027, industry standards in key areas such as digital transformation, new materials, and green development should be published and implemented, totalling over 400 standards.

MIIT official Chang Guowu announced on Tuesday that China’s new materials industry saw a more than 10 per cent year-on-year increase in total output value in the first 11 months of 2024, projected to surpass eight trillion yuan for the full year.

Attribution: Xinhua

Subediting: M. S. Salama