The global elites of the chemical-based advanced materials industry are now meeting at the Binhai New Area in Tianjin to attend the 2nd International Advanced Materials (Tianjin) Summit held between today and Friday.

Co-organized by the Tianjin municipal government, China National Chemical Corp (ChemChina), Dechema - Germany's Society for Chemical Engineering and Biotechnology - and Morgan Stanley, the summit provides a forum for the shared interests of government, enterprises, industry organizations and investors, with focuses on opportunity and responsibility.

The forum is also supported by government ministries and industry organizations such as the National Development and Reform Commission, the Ministry of Science and Technology, and the China Petroleum and Chemical Industry Association.

Leaders from top multinational companies including DSM, Dow, BASF, Celanese AG and Bayer participate in the summit. Managers from five top-ranked Chinese petrochemical corporations - China Petrochemical Corp, China National Offshore Oil Corporation (CNOOC) and ChemChina also attend the summit.

Government leaders, top experts, and enterprise decision-makers will discuss the latest trends in science and technology development and opportunities in the advanced materials industry as well as corporate social responsibility.

Organizers said the summit will deepen communication between government and enterprises so that enterprises can learn policy trends and the voices of businesses can be heard by the government. Domestic and foreign companies will share information on their challenges and achievements to strengthen mutual learning and extend full cooperation.

The summit will also host technology forums on composite materials and aerospace, chemical industry materials and lightweight automotive materials, and membrane materials, water resources and environmental materials.

With the rapid development in recent years in aviation, aerospace, automobiles, electronics, electrical appliances, construction and public utilities, industry insiders say the advanced materials industry has entered its golden age of development.

This year has been particularly noteworthy for China as it officially began its jumbo aircraft project, launched the Shenzhou VII spacecraft and completed construction of the Bird's Nest and Water Cube, all of which show the importance of advanced materials as a force in science and technology development.

Materials science is the basis and pioneering power in the development to many sectors of modern industry, providing strong technical functions to support national economy and industrial development. Since China entered the era of reform and opening to the outside world, research, development and industrialization of advanced materials have been emphasized by the Chinese government.

In the past 10 years, the government has invested more than 3 billion yuan to finance a series of projects, including key State laboratories, national research centers and important scientific projects.