Plastics Processing Industry Enjoyed Double Digit Growth    

China Plastics Processing Industry Association reported that China's plastics processing industry achieved a total production value of RMB1 099.28 billion in 2009, up 13.4% year over year. All designated companies (all state-owned companies and non-state-owned enterprises with annual sales of over RMB5 million) together produced 44.7928 million tons of plastic products in 2009, an increase of 10.64%.
   Zheng Kai, secretary of China Engineering Plastics Association, recently commented at a summit that China's demand for plastics will exceed 65 million tons in 2010, of that the demand for modified plastics will surpass 6 million tons. Zheng stated that China's consumption ratio of modified plastics has increased in recent years, but still left big gap compared with the 20% ratio in the developed countries.  
   In 2010 Chinese engineering plastics makers will face three pressures: cost increase, impact from imports and competition from foreign funded companies in China.