Plastics industry to recover double-digit growth

China's plastic industry is expected to resume double-digit growth in the second half of the year, according to the head of China's largest plastics industry association. "The industry grew 9.3% in the first four months of the year, as China's overall GDP growth slowed to 6.1%, but indications are that government stimulus spending and other factors will push plastics industry growth back above 10% in the second half of the year," said Mr. Liao Zhengpin, president of China Plastics Processing Industry Association. Mr. Liao said China's economy would continue to depend on "Advanced foreign technologies" for upgrades, and called for additional international exchanges. Chinese companies still have to put additional spending into research and development and move away from producing lower-value products dependent on cheap labor. "High value added products are still lacking," he said. CPPIA statistics show that China's plastics processing industry took a significant hit due to the slowdown in developed economies, as China's plastic product exports declined.Air Max 90 Fireflies