Qingdao, Shandong province [Photo provided to chinadaily.com.cn]  

The eastern coastal city of Qingdao, Shandong province recently launched a slew of supporting policies to boost the construction and development of the New Display Industrial Park, which is located in the Qingdao Coast New Area.

The new display industry includes organic light-emitting diode (OLED) displays and micro/mini light-emitting diode (micro/mini-LED) displays. Compared with traditional liquid crystal displays, the new technologies are greatly improved in terms of image contrast, brightness and color spectrum, and thus further upgrade the display industry, according to experts.

With a planned area of more than 933 hectares, the Qingdao New Display Industrial Park is designed to leverage new display technologies to bolster economic growth, boost regional high-quality development and support enterprises to expand display applications in vehicle-mounted devices, smart homes, virtual reality and other emerging sectors.

It is expected that by 2024, the park's output value will have reached 60 billion yuan ($8.62 billion) and gathered more than 30 new display market players.

Qingdao will give great support to making breakthroughs in core technologies of the new display industry and consolidating the enterprises' prominent role in propelling technological innovation.

Financial support of up to 10 million yuan per year will be allocated to enterprises in the park to carry out technological research and platform construction.

The city will also support collaborative innovation between leading enterprises in the park and universities and institutions, and strengthen the supply of generic technologies.