On May 30, The Shanghai Cooperation Organization (SCO) China Business Council announced at the energy conservation project held in Moscow that China will use a total investment of $ 500 million to establish "Shenzhen
LED Industry Park" in Russia, which will generate the output of 1.5 billion yuan after the completion. This initiative is proposed by
Lightgreen international.
The initial phase of the park will involve about 10 Shenzhen
LED manufacturers. This industry park is designed to be built into
LED-based product manufacturing base and target the markets of Russia and other SCO members. The project encompasses 50 to 100 hectares, consisting of plants, research labs, supporting residence and infrastructures. The park will house enterprises covering varied
LED-based application fields, such as
LED packaging, outdoor and indoor
lighting,
LED display etc.
It is estimated that Russia represents Shenzhen's 11th largest trade partner and the 10th largest export market. In 2011, the import and export between Shenzhen and Russia achieved 2.91 billion dollars, with 12.3% annual growth, and in terms of the export only, it hit 2.66 billion dollars, a 30.9% annual growth.
In addition, "On Energy Saving and Efficiency Improvement " passed through Russian Parliamentary has encouraged Shenzhen
LED enterprises to show interest in Russian market. The regulation rules that starting Jan 1, 2013, the production and sales of 75-wattage-and-above incandescent be banned in Russia; starting 2014, the ban will spread to 25-wattage-and-above incandescent. This indicates a potential market demand of
LED lighting in Russia in the future.
