China Government to Add Subsidies up to $285 Million for Display Technologies including Micro/Mini LED and OLED
The Chinese government aims to push innovative display technology development and revealed a new regulation of subsidy.
The Guangzhou government published a notice pointing out that with the goal to upgrade the display technology of the province, the government will support companies investing in novel display technologies including OLED, AMOLED, Mini/Micro LED, QLED, printing display, laser display, 3D display, holographic display, e-paper flexible display, grapheme display and others.
The government will provide a one-time subsidy of RMB 800 million (US$ 114.3 million) to companies that begin trial production for related display technologies. These companies have to meet the requirements of a registered capital no less than RMB 10 billion (US$ 1.43 billion) and an equipment investment no less than RMB 20 billion (US$ 2.86 billion).
In addition, if a company reaches a revenue of RMB 6 billion (US$ 857.21 million) for the first time, it can also receive a one-time reward of RMB 600 million (US$85.72 million). If the company grow by double in the next year with a revenue of RMB 12 billion (US$ 1.71 billion), it can again apply for a subsidy of RMB 600 million (US$85.72 million)
According to the current regulation, a company can be awarded up to RMB 2 billion (US$285.64 million) with the investment in new display technologies. As the LCD display market becomes weak with severe price competition and low profit, the Chinese government now turns to new display technologies.