​Weihai makes strides in becoming China's carbon fiber hub

Weihai has a thriving carbon fiber industry. [Photo by Yang Yan for chinadaily.com.cn]

The Weihai International Port Economic and Technological Development District (Lingang district) in Weihai, Shandong province, has been making strides in becoming a hub for carbon fiber and composite materials.

At the recently held International Conference for High-Performance Fiber and Composite Technology, agreements for 12 projects to be set up in the Carbon Fiber Industrial Park in Lingang were signed. These projects are related to sectors such as composite equipment production and testing, as well as composite product manufacturing.

Among these projects is a composite material propeller project which will produce propellers for unmanned aerial vehicles, electric aircraft, and ships. The project is expected to generate an annual revenue of 200 million yuan ($28.25 million).

To facilitate industry growth, Lingang has established a favorable policy environment that has an investment promotion platform with dedicated departments focusing on the carbon fiber industry chain and related sectors.

This year, Lingang has allocated over 60 million yuan in supporting funds for local carbon fiber companies and initiated a pilot project for source-grid-load-storage coordinated development. Lingang has been approved as the city's first pilot for a "financial steward" program that will provide financing plans and credit lines for companies.

Recognized as a "Shandong Carbon Fiber Characteristic Town" and "Shandong Carbon Fiber and Composite Material Characteristic Industry Cluster," Lingang is aiming to strengthen the carbon fiber industry by fostering collaboration between enterprises and research institutes, expanding production capacity, and commercializing research achievements. Efforts will also be made to enhance supporting facilities, attract technology and talent, and implement favorable policies. (Edited by Jiang Ting)