Germany supports the chemical industry

Source: China Chemical Industry News February 14, 2019

Sinochem.com The German Ministry of Economy and Energy officially released the \"National Industrial Strategy 2030\" on February 5, aiming to support key industrial fields in a targeted manner, increase industrial output value, and ensure the competitiveness of German industry in Europe and even the world.

According to this strategy, Germany plans to increase the proportion of industrial output to 25% of GDP by 2030. The strategy lists ten industrial sectors such as steel, copper, aluminum, chemicals, machinery, automobiles, optics, medical devices, green technology, defense, aerospace, and 3D printing as key industrial sectors. The government will continue to support these sectors, provide related companies with cheaper energy and a more competitive taxation system, and relax monopoly laws to allow the formation of \"national champions\" and even \"European champions\" enterprises to improve German industry Global competitiveness.