China plastics probe hits EU, U.S., Japan, Taiwan: 5 things to know

Target material used in cars and more; timing on eve of Lai inauguration raises eyebrows

POM copolymer belongs to a group of durable and heat-resistant materials known as engineering plastics. Chinese President Xi Jinping's government is thought to be protecting domestic production for economic security. (Source photos by Reuters)

KENJI KAWASE, Nikkei Asia chief business news correspondent

May 21, 2024 11:31 JST

HONG KONG -- China's Ministry of Commerce has initiated an anti-dumping investigation into a chemical product called polyformaldehyde (POM) copolymer, exported by companies in the European Union, the U.S., Japan and Taiwan.

The decision announced Sunday left industry players puzzled as to why this particular material was being targeted among so many exports to the country, and why now.