A Chinese procurement group is likely to place more than the planned US$5.3 billion in orders for flat panels from Taiwan when visiting Taipei next week, a Taiwan External Trade Development Council (TAITRA) official told CNA on condition of anonymity yesterday.
Bai Weimin (白為民), the secretary-general of the China Video Industry Association, will lead a Chinese trade delegation to Taiwan on Monday to place orders, TAITRA said in the statement.
Nine Chinese TV manufacturers signed a letter of intent with major Taiwanese panel makers including AU Optronics Corp (友達光電), Chimei Innolux Corp (奇美電子) and Chunghwa Picture Tubes Ltd (中華映管) in Beijing in January, the statement said.
During her visit to Taiwan last year with a similar group, Bai announced a huge increase in the value of procurement orders — from US$2 billion to US$4.4 billion, it said. The final value last year, however, fell short of the target reaching just over US$3 billion.
Yesterday, TAITRA said the value of procurement orders this year might increase as the Chinese government will launch new measures to stimulate the economy. The council also quoted Chinese companies as saying there will be “explosive growth” in China’s demand for LED TVs this year.
China only produced 100,000 LED-backlit TVs last year, but the demand for LED TVs this year is forecast to grow to between 10 million and 15 million, TAITRA said.
“As a result, China will rely very much on the support of Taiwan’s flat panel and LED makers this year,” it said.
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