A global research and development center for natural rubber has been established in Bo’ao Hainan Province, which aims to develop new markets and drive for international cooperation in the industry.
China is both the biggest consumer and importer of natural rubber in the world, consuming 4.9 million tonnes in 2016, accounting for 40% of the global total.
"We pursue international cooperation on a deeper level in the natural rubber industry," said Yang Yi of the Ministry of Agriculture, reported Xinhua.
Hainan's vice governor Li Guoliang said that the island province is a major production area for crude rubber and Hainan will continue to push for the development of the industry.
"We support Hainan companies' cooperation with foreign companies in the planting, processing, storage, logistics and trade of crude rubber," Li said.