Chinese LED manufacturers San’an Opto and Silan Microelectronics both announced receiving massive subsidies from the local government recently.
San’an Opto announced it received subsidy worth RMB 150 million (US $22.89 million) from the Xiamen Torch High-tech Industrial Development Zone management team in China. The subsidy is part of an investment agreement that the company signed with Xiamen City.
Silan Microelectronics also recently received RMB 29.14 million subsidy from Hangzhou Municipal Finance Bureau and Hangzhou Economic and Information Technology Commission.
The company received in total RMB 17.62 million from three different important technology subsidy programs issued by the two government agencies, and an additional RMB 10 million from the Hangzhou Economic Information Technology Commission for ” key components in a smart stereo”.