The 2019 China (Xiamen) Graphene New Material Industry Summit is held in Xiamen, East China's Fujian province, on Dec 27. [Photo provided to chinadaily.com.cn]

The 2019 China (Xiamen) Graphene New Material Industry Summit was held in Xiamen, East China's Fujian province, on Dec 27, according to local media reports.

More than 300 experts in the graphene new material industry, policy experts and investors from China and abroad were invited to explore the development trends of the industry, share cutting-edge technologies and offer advice at lectures and roadshows.

Heat conduction and heat dissipation products, as well as anticorrosive coating, semiconductors and new energy batteries were on display at the summit.

The Xiamen Torch Development Zone for High Technology Industries also announced plans to invest one billion yuan ($142.98 million) into the construction of an industry park for the graphene new material industry.

The industry park, covering an area of 300,000 square meters, is projected to be completed by the end of 2021.

Through the summit, the development zone aimed to promote its industrial development toward creating high technologies with high added value.

In September 2018, the high-tech zone rolled out a series of policies to boost the development of its graphene and other carbon material industries, which state that advanced carbon material companies that decide to settle in the zone will receive financial support of more than 10 million yuan, including rent waivers and electricity and R&D subsidies.

As of now, the development zone has cultivated roughly 50 high-profile teams and companies involved in the graphene new material industry.