"Twelfth Five-Year Plan" boosts the plastics industry to go upstream

"Twelfth Five-Year Plan" boosts the plastics industry to go upstream

However, we also found that these growth are concentrated in the fields of bio-plastics, recycled plastics, green packaging, etc., and technological innovation companies are the first to enter the ranks of advantageous development and gain new economic growth points. The “Twelfth Five-Year Plan” specifically called on the Chinese government to help plastics manufacturers upgrade and update their production lines. The program pays special attention to specific products – including agricultural films, environmentally friendly plastic packaging, pipelines and biodegradable products, as well as tax incentives and cash incentives for companies that follow the plan. The plan also calls for the promotion of government-funded mergers and acquisitions, the consolidation of weaker companies into larger ones, and the formation of more competitive entities.

Another related policy, the “12th Five-Year” development plan for the petrochemical and chemical industries, calls for further promotion of the development of engineering plastics and the listing of biodegradable plastics, special plastic alloys and environmentally friendly plastic additives as “focus”. Companies that comply with these directives will receive incentives such as cash payments, tax breaks, land acquisitions and other incentives provided by the government.