On January 4th, a ground-breaking ceremony was held at the Shanghai Exhibition Center to mark the start of the 2021 Shanghai major industrial projects. With a total investment of 3.5 billion Yuan, SPC officially started a construction of the “24,000 ton year precursors, 12,000 ton/year 48K large tow carbon fiber project”. The project is scheduled to be completed by 2024. When the project is put into operation, it will change the situation that China relies completely on imports of large tow carbon for a long time, give a strong impetus to the development of domestic carbon fiber industry and help Chinese manufacturing.