On September 9th, the Jiangsu New Materials Industry Venture Capital Fund, co-sponsored by the two governments of Jiangsu Province and Changzhou City, Jiangsu Province New Material Industry Association, and Jiangsu Jinmao Capital Quartet, was established in Changzhou with the initial scale of 500 million yuan. This means that Changzhou's new materials industry has literally become the leader in Jiangsu Province. In recent years, Changzhou's new material industry has developed rapidly. By the end of last year, there were 570 new material companies above designated size in the city, and the current annual production value was over RMB 160 billion. It is a new type of polymer composite material, functional new material, special fiber composite material and rare earth. A number of patented technologies and products have been gathered in the fields of nanomaterials, which have formed the characteristics and advantages of Changzhou's new materials industry.
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