The new materials and products industry in Weihai is well bolstered by the top-notch products like carbon fiber, composite materials, new medical materials, magnesium aluminum alloy materials and new energy-saving and environmentally-friendly building materials etc.

Enterprises that are above designated size achieved a total business income of CNY 38.18 billion in 2016 and continue to attain growth year-on-year, providing a nursery for new research-based innovations that will shape future material-based economy. Government incentives to build 3 major industrial bases and new  technologies through independent research and development have formed the bedrock for Weihai’s new material industrialization, shifting towards sustainable development and state-of-the-art materials, and transforming from a bulk orientation to high value added or bio-based materials. Research institutes and businesses are open to collaboration with foreign investments in this area to hammer out details for better products and augmented production capacity.