District registers 27% rise in new materials output

Aug 10, 2017

The new materials industry expanded 27 percent in Jinshan in the first five months of 2017, compared with a year earlier, hitting 11 billion yuan (US$1.65 billion) in output value.

The big jump was attributed to projects invested by Fortune 500 companies, such as BASF, Nippon, Sinolight Chemicals, and Kao Corp, and to the technological upgrade of other enterprises.

Shanghai Huide Science & Technology Co Ltd, for example, owns 60 percent of the domestic polyurethane market and is developing more eco-friendly products.

Mitsui Chemicals Shanghai has a factory in Jinshan that produces auto parts with thermoplastic polyolefin and its output exceeded 100 million yuan in the first half of the year.

"Auto makers want their cars lighter and more fuel efficient. Auto parts made of thermoplastic polyolefin are lighter and thus save more fuel," said the company executive.

A forum was held recently to discuss the development of new materials industry and start-up incubators in Jinshan to support Shanghai's plan to become an intelligent manufacturing center.