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International trade

The lethargic symptoms in global market gave way to a vitality in China’s domestic demand during the 12th Five-Year Program period (2011- 2015) that witnessed a decreasing export share from 47.3 percent in 2010 to 41.8 percent in 2014, approaching progressively to 30 percent in its target share as laid down in the industry development plan that emphasizes more domestic contribution to the industrial growth, showing that the share of domestic sales was obviously increasing to respond to consumption growth in China. (Table 1)

The data in 2015 also saw an export slidedown in both volume and value with 1.249 million tons for 2.05 billion U.S. Dollars, registering a drop by 3.2 percent and 0.7 percent respectively, but the highlight is the averaged price that reads 1640.86 dollars/ton, up by 2.6 percent, realizing 1.163 billion dollars in trade surplus, up by 6.4 percent, showing optimistic trend of an optimized product structure in export to reduce outbound shipment of low-end products. To be more exact, the coarse yarn export dropped by 4.1 percent in volume while the fine-denier yarn was shipped out at averaged price higher than that in the same period the year before. To keep that momentum, Chinese investment in more sophisticated product operations overseas has been increasing on new market fronts, like Chongqing Polycomp International Corporation (CPIC) that has furnace process operations in Balin and Brazil by virtue of acquisition and share holding, and China Jushi Co., Ltd. that is stepping up process of setting up glass fiber production facilities in Egypt and U.S.A. besides its 14 existing establishments (sales office and production bases) in South Africa, France, Italy, Canada, Spain, India and Singapore etc. in an effort to substitute going-global investment for home-grown export in a new international vision.

Development of fiber-reinforced composites

The dynamic growth in Chinese economy has contributed a lot to the domestic demand for glass fiber and its composites, in spite of the speed geardown to 6.9 percent in GDP last year that saw even slower rate than that in 2008, 2009 and 2010 with 9.6%, 9.2% and 10.4% respectively during the three years of global financial crisis. The technology in pultrusion, fiber winding and modeling processes has made much headway, which increases productivity to challenge rising labor cost in the fiber-reinforced composites industry.

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