Carbon fiber composite firms ink deals with Jinshan

A dozen companies signed agreements with Jinshan District on 15 projects in the carbon fiber composite industry on Thursday at an industrial summit.

The planned investment of these projects totaled 7 billion yuan (US$1 billion). The district is expecting to generate over 10 billion yuan from the carbon fiber composite industry by 2025, and 50 billion by 2035.

Carbon fiber composite is an advanced material widely used in the automobile, aircraft, power and military industries. More than 10 percent of materials used in China's first domestic aircraft, the C919, are carbon fiber composite.

Jinshan also released 15 new policies at the summit to facilitate the industry's development. A new fund was also established to support carbon fiber composite research and development.

Meanwhile, the district will also offer listing consultation services for industry companies looking for opportunities and investments from the STAR market.

In May, Shanghai Carbon Fiber Composites Innovation Institute was established in Jinshan. It has been working with Jiao Tong University and COMAC on new material research.