China’s optoelectronic power house is situated in its southern province Xiamen, which is known for its strong LED lighting industry, reported Xiamen Daily.

The province is China’s top manufacturer in LED chips and bulbs, with prospects of China's market value reaching RMB 100 billion milestone by 2020, said industry insiders at a LED forum that took place recently to discuss innovative LED technologies in Haixi region in China.

At the forum, visitors spoke about the current LED industry trends and innovations in the LED luminaire, lighting systems, and other innovative technologies. Transforming light sources, luminaires, and other innovative technology. Smart lighting technology, innovative applications, promotion of LED lighting, new business models and talks on other related subjects.

It is estimated by 2020, China’s LED lighting market value will soar to reach RMB 1 quadrillion (US $147.59 trillion), said Jun Ruan, Deputy Secretary-General of China Solid State Lighting Alliance.

In 2015, the entire Xiamen LED lighting industry supply chain value reached RMB 70 billion, and LED EPI-wafer manufacturing amounted to more than 60%. LED bulb exports from the province makes up about 30% of national exports in China. The province has been a top LED EPI-wafer and bulb exporter for consecutive years in China.

A new financial cooperation strategy between Haxi optoelectronic industry and financial institutes was established at the forum.