China's 12th Five-Year Plan: Chemicals

China's 12th Five-Year Plan: Chemicals

China's traditional export driven business model, with its emphasis on cost competitiveness, standardisation and middle-to-low technological content, is being eclipsed by new economic drivers and priorities in China.

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In the chemical industry, we see increased technological competence and deeper local customisation. The passing of the 12th Five Year Plan in March 2011 heralds this new phase of development, which is quickly being embraced by the leading players in the industry.

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