China aims to “significantly enhance” the sustainable capacity guarantee for phosphorus resources by 2026 and create three leading phosphorus companies with global competitiveness, according to Bloomberg, citing a Jan. 3 statement on China’s Ministry of Industry and Information Technology website.
Under the plan, the country is expecting consistent improvements in the innovation, eco-friendliness, and safety of the industry, as well as a “remarkable” increase in the output of high-end phosphorus products, according to a separate report by Xinhua.
Soon after the announcement, share prices of Chinese phosphorus chemical companies rose: Guizhou Zhongyida +9.4%, Kunming Chuan Jin Nuo Chemical +7.9%, Henan Qing Shui Yuan Technology +9%, and Hubei Yihua Chemical +5.2%, according to Bloomberg.