Plastics industry in China – additional information
China is the world’s largest plastic producer as of 2013, accounting for nearly one fourth of the global plastics production. In 2012, approximately 58 million tons of plastic products were produced in China, with the total sales value of the plastic product manufacturing industry in China amounting to 1.65 trillion yuan. A look at the sectors shows that plastic film manufacturing and plastic plate and tube manufacturing reported a notable increase, generating an operating revenue of 33 and 55 million U.S. dollars respectively in 2011.
While the production and supply of plastic materials are dominated by large state-owned companies, the majority of Chinese plastic product manufacturers are small private companies. The plastic product sales from private plastics manufacturing enterprises had valued 812 billion yuan in 2012. Foreign investment in the Chinese plastic industry has increased significantly since China joined the World Trade Organization (WTO). The foreign-funded plastic industry in China had generated a total revenue of about 437 billion yuan in 2012.
China’s plastic industry is undergoing a comprehensive transition from quantity to quality; the future development of this industry is focusing more on technological innovation with eco-friendly concepts.