How to bask in the biz of masks

What helped China stand out from the crowd was the approach adopted by its corporates such as China National Offshore Oil Corp or CNOOC, and China Petrochemical Corp, also known as Sinopec Group. They produced additional quantities of polyethylene, polypropylene and medical-grade synthetic resin. The petrochemicals are raw materials for face masks, syringes and other medical supplies. Their production helped preempt any medium to long-term shortages.

Similarly, China National Petroleum Corp, or CNPC, produced disinfectants, protective suits and masks.

In the COVID-19 combat, the output value of face masks in China has surged, inflating demand that had been building due to rising health awareness and stop-start air pollution, a recent report said.

Beijing-based CCID Consulting said in a report China's output value of masks this year will likely surpass 13.2 billion yuan ($1.9 billion), up almost 28 percent from 10.2 billion yuan in 2019. Over the past five years, the output value of masks on the Chinese mainland had seen compound annual growth rate of nearly 13 percent.

On March 5, Li Xingqian, general director of the Department of Foreign Trade at the Ministry of Commerce, said demand for face masks remains high in spite of increased production, as various economic sectors head for a reboot after the extended break that began in January with the Spring Festival holiday.

Given that no restrictions have been placed on the trade of masks, producers are expected to carry out their business in a principled way, as per market forces, he said.

Data from the China Textile Commerce Association showed that in 2011, China's demand for face masks totaled 1 billion pieces. That figure quadrupled to 4 billion pieces in 2018. Owing to epidemic control measures, demand for masks is likely to continue to surge.