Chinese LED chip producer Sanan Optoelectronics reported that the company has received subsidies from the local government for its Micro LED project which started this year based on the company’s RMB 12 billion (US$ 1.7 billion) investment in Hubei Province, China.
The company received a subsidy of RMB 66 million (US$ 9.43 million) on December 24, 2019, according to the agreement signed by Sanan and the local government. Sanan announced that investment plan for building a development center for Micro LED and Mini LED wafer and chip production in April, 2019 and signed the investment agreement with Hubei Province. Construction of the project began in July.
Chinese companies are proactively pushing Micro LED development within these two years. The Chinese government also aims to supports the development by adding extra subsidies.
LEDinside covered that the Guangzhou government published a notice last week that with the goal to upgrade display technology development in the province, the government will support companies investing in novel display technologies including Micro/Mini LED, OLED, AMOLED and others. The subsidies can reach up to RMB 2 billion (US$ 285.83 million).
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