Latest News:  
Beijing   Sunny    29 / 17 ℃  City Forecast

English>>China Business

Savings drive LED market in China

(Xinhua)

08:16, August 22, 2012

BEIJING, Aug. 21 (Xinhua) -- The market for using energy-saving light emitting diodes (LEDs) at commercial venues such as malls and offices is increasingly opening up in China despite multiple problems troubling the sector, the China Securities Journal reported on Tuesday.

Promotion of LEDs has mainly taken place at commercial buildings, government offices and malls so far in China, Li Guoping, chairman of the Guangzhou Hongli Opto-Electronic Co., Ltd., told the newspaper.

Government offices and malls have recognized the benefits of LEDs even though they are more expensive than traditional light sources, Li said, adding that a 30-storey building, if using LEDs instead of traditional lights for 8-10 hours per day, may offset the cost of the initial installation of LEDs with the electricity cost they save in 15 months.

The Chinese government has also encouraged the sector's development, aiming to elevate the industry's total value to 500 billion yuan (79.4 billion U.S. dollars) by 2015. Meanwhile, it is planning to support 20-30 enterprises in becoming leading LED enterprises by then.

The report said that China currently boasts an estimated 8,000 LED companies, the products of which are of varying quality. "One product labelled as an LED can sell for nearly 200 yuan, while another just sells for 20 yuan," a sales manager at a light mall in Guangzhou said.

The report further explained that the absence of unified product standards are a major cause of the disorder currently facing the market.

However, Guangdong Province in south China is leading the nation by mapping out specific plans for the development of LEDs. The province has guided universities and research institutes to work with more than 20 local LED enterprises to jointly release technological indexes for LEDs, according to the report.

More city governments in the province have been encouraged to work with universities to set up labs or research centers for technological innovation, it added.

News we recommend:
Prices fly for Angry Birds' merchandise Wine imports give Chinese firms a hangover Spirited into the world of e-commerce
E-shopping fuels domestic consumption China's firms bigger but not necessarily better China's beauty industry profits from a makeover
Taxing times for China's tax reformers  Experts divided on yuan’s future [Audio]Soccer in China Part III: The Business Side

Email|Print|Comments(Editor:李倩、厉振羽)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Officers and men in live-ammunition tactical drill

  2. Uncover the secret of gold bars production

  3. Taxing times for China's tax reformers

  4. Hong Kong ready for Paralympics

  5. sexy bikini - on the beach

  6. How to marry a billionaire

Most Popular

Opinions

  1. EU, China extend hands of friendship
  2. Editorial: Rules for stock market
  3. U.S.-S. Korea drills harmful to regional stability
  4. Wake-up call for industry
  5. Is Romney trounced, or has more tricks?
  6. Commentary: Meet the new consumers
  7. Medicare row escalates with Romney's VP pick
  8. New UN envoy's appointment last ditch for Syria
  9. Stock markets remain a depressing drag
  10. ASEAN, China should maintain regional stability

What's happening in China

Lhasa ranks at top of residents' happiness list

  1. Officers and men in live-ammunition tactical drill
  2. Many workers face extended probation period
  3. Free Qixi Festival events canceled
  4. Three Gorges Dam sees new round of flooding
  5. Amusement parks boost real estate market

China Features

  1. Japan stuck in neighbors' anger
  2. Is China's low-cost era approaching its end?
  3. Chinese firms provided one-stop services in U.S.
  4. Don't store bread and biscuits together
  5. Eat ducks during Chushu (Stopping the heat)

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai