OREANDA-NEWS. August 30, 2011. China will prioritize the development of six types of new materials in its new material industry over the next five years, the China Securities Journal said.
 
The report cited an insider, who noted that the country's 12th Five-Year Plan (2011-2015) for the new material industry will come out in September, in which the government will launch key projects to support the development of the six materials.
 
The six materials will be high-strength light alloy, advanced iron and steel, carbon fiber composite, new power battery material, function coated material, and rare earth function material, according to the report.
 
The plan states each of the six sub industries will form a sizable industrial scale, with the industry's total output value to hit trillions of yuan by the end of 2015, and the self-supply rate to reach 70 percent during the period, the report said.
 
Meanwhile, the government will also foster the development of materials in sectors such as green building material and the biomedical industry over the next five years, it added.