More mergers and acquisitions expected in nation's LED industry

BEIJING - China's LED industry will accelerate mergers and acquisitions in a plan seeking to foster world-class brands. In a development plan jointly released by 13 government agencies, China aims to achieve breakthroughs in key technologies in the LED industry to expand market value to 1 trillion yuan ($148.6 billion) by 2020.

China should have at least one LED company with a sales volume of more than 10 billion yuan, and one or two world-renowned brands, according to the plan.

The government will encourage more M&As in the industry to push concentrated and differentiated development in the sector.