Graphene is one of the most interesting inventions of modern times, and has the potential to transform the field of material science. A thin layer of pure carbon, it is tougher than a diamond, yet very lightweight, and easily conducts electricity and heat. It has been used for a wide variety of applications, from strengthening tennis rackets to building semiconductors.

Graphene was first isolated from the mineral graphite at the University of Manchester by Andre Geim and Kostya Novoselov in 2004. The achievement earned them the Nobel Prize in physics in 2010. Owing to its short history, its commercial potential has yet to be unlocked.

"China's high-tech manufacturing industry, ability to invest heavily in the graphene sector and its abundance of highly qualified graphene industry talent all contribute to its advantages in the graphene industry," says Robert Young, a renowned graphene scientist and a professor of polymer science and technology at the University of Manchester..

He says China is going in the right direction in giving graphene an important role in its policies, such as in the 13th Five-Year Plan (2016-20), which sets out the country's development objectives.

China and the UK can cooperate greatly in graphene research in two key ways, Young says. "First, the exchange of talent is important. For example, in my team there are several Chinese PhD students doing graphene research, and I would expect they will in the future return to China and share their knowledge and expertise."

The other contribution China can make to the global graphene field is the hosting of academic and industrial conferences, to facilitate more discussions and exchange of ideas in the area, he says, adding that one example is the GraphChina conference in Qingdao in August, which facilitates graphene industry discussions.

Graphene has an important role to play for China, especially as it has been discovered at a time when China's electronics industry is also developing rapidly and will able to make the most of this material, Young says.

"Chinese industries are much more sophisticated compared with 20 years ago, and graphene can also greatly help China achieve its ambition of a structural shift toward high-end manufacturing," he says.

Currently, 70 percent of graphene's raw material, graphite, is found in China, giving Chinese graphene manufacturers a big advantage. To make the most of such an advantage, China has also established five graphene industrial parks to accelerate the industrialization of the material. The parks are located in Changzhou, Wuxi, Ningbo, Qingdao and Chongqing.

According to statistics from the UK's National Physical Laboratory, China has applied for 47 percent of the world's total graphene patents, and is currently the world's biggest applicant country.

The Beijing-based market intelligence firm ResearchInChina estimates that China's graphene market will grow to 200 million yuan ($30 million; 26.6 million euros) in 2018, compared with the current global market of $65 million. The global market in 2015 was worth $24.4 million.