Over 300 participants from home and abroad were present at the second International Advanced Materials Summit, which began in Tianjin on Oct 30 and ended on Oct 31.
Yang Dongliang, vice-mayor of Tianjin, said, the premium event provides an efficient platform for the business community, government officials and investment institutions to exchange opinions and information.
Three special technological sections concerning autos, aviation and aerospace, and water resources were held in the afternoon, in a bid to explore the forefront of technological advancements.
Shi Changxu, academician of both the Chinese Academy of Science and the Chinese Academy of Engineering, said at the meeting that chemical materials have a promising future.
He said, due to a worsening environment and heavy consumption of energy and resources, new eco-friendly materials are requested for a sustainable economy.
On particular, he predicted that carbon fiber reinforced (CFR) composite materials, which are widely used in making planes, will have a brisk increase in China.
China will invest more in producing helicopters, which will result in a higher demand for CFR composite materials, since the earthquake in Sichuan in May, Shi said.
He added that advanced materials also play an active role in promoting the use of clean energy, and the key to photovoltaic solar energy technology lies in extracting silicon, a key element for semi-conductor chips.
He said, development of the west China region should begin with development of renewable energy. The region, with ample sunshine, vast land and a lower population density, is an ideal place to build photovoltaic power stations.
Shi predicted, with hydrogen-making through electrolysis of water by use of solar power, China will meet its quota of hydrogen energy.
The development of materials for hydrogen storage and transportation will be on the agenda. Experts in the material industry should get themselves deeply involved in research on renewable energy, Shi said.
Confidence needed
As the global economic crisis is spreading widely worldwide and is endangering other sectors, lots of the speakers touched on the topic of how to deal with the challenges that have arisen at the meeting.
In spite of increasing pressure on exports, of which many Chinese companies have experienced the chill, Ren Jianxin, president of the China National Chemical Corporation (ChemChina), is still optimistic about his company’s future.
In the first three seasons, ChemChina registered a 34 percent growth in sales.
He stressed, “My confidence (in ChemChina’s prospect) lies in my confidence in the nation.”
China, less affected by the financial turmoil, China is quick to make response, he said.
Ren said, the Chinese government has adopted a series of measures to extend support to industries in need, including the recent announcement of increased export tariff rebates.
Moreover, as the most popular nation, China has large potential in market growth, with policies released to stimulate domestic consumption and new countryside construction, he noted.
As costs of raw materials are dropping, Ren is eyeing expanding production facilities.
He said at the meeting that ChemChina intends to invest in building a technological park in Tianjin and pour in 8 to 10 billion yuan in the initial phase of the project.
It’s obvious that ChemChina’s business partner also has the same confidence.
Blackstone, one of the biggest US private funds, clinched a deal with ChemChina last September to secure a 20 percent stake in Bluestar, a prime subsidiary of ChemChina.
According to Ren, the payment has been delivered.
Morgan Stanley, another financial institution, also showed its confidence in China. Christianson Wei, managing director and CEO of Morgan Stanley China, said, “We believe that China will become a key contributing element for the world economy recovery.”
Morgan Stanley, as one of the earliest Wall Street firms entering the Chinese market in the early 1990s, has reaped a lot from China’s booming economy and deepening opening-up.
The revenues the firm gained from China roughly took up 10 percent of its global total, which was unimaginable 10 years ago, she said.
She added, thus China is now valued as a key part in Morgan Stanley’s global strategy.
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