The China Chemical Fibers Association (CCFA) will finish formulating the 13th Five-year Development Plan (2016-2020) for the chemical fiber industry by the end of September, according to a report by the Shanghai Securities News. High-performance chemical fibers will be listed as a top development priority in the plan.
China's chemical fiber production is expected to grow 3.6 percent annually from 2016 to 2020, far lower than the average annual growth rate of 9.2 percent from 2011 to 2015, according to sources with the CCFA.
The industry expanded fast during the 12th Five-year Plan period (2011-2015). The country's chemical fiber output reached 43.897 million tonnes in 2014, accounting for nearly 70 percent of the world total in the year.
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