blog:the Nine Dragons Paper

The ACN, whose asset value was not calculated in the rich list, is reported to provides

nearly 80 percent of the raw materials for the Nine Dragons Paper.”The key to the success of

Nine Dragons Paper is ensuring the long-term and steady purchase of high-quality waste paper

in large quantities,” said Zhang.ACN took good care of that, ranking the largest U.S.

exporter of raw materials for paper-making and the biggest container exporter among all US

industries for the past five years in a row.ACN’s success came with the burgeoning Chinese

paper-makers’ reliance on imported scrap paper.Since its beginnings in the 1990s, China’s

paper-making industry is growing faster than any other in the world with an output of 49.5

million tons in 2004, while 54.4 million tons of paper was consumed, both figures ranking

the world’s second highest.However, domestic supplies are insufficient, as only 30 percent

of China’s scrap paper is recycled each year, compared with 70 percent in the United

States.Forced to buy foreign scrap, China imported 12 million tons of waste paper in 2005,

nearly half of the world’s waste paper available for export.