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China's BOE to spend big on display panels with state backing

Investment plan aligns with Xi's strategy to shift the economic focus to quality

BOE Technology Group's highly bendable prototype OLED panel (photo provided by the company's website).

BEIJING/TOKYO -- Chinese display maker BOE Technology Group is embarking on a 96.5 billion yuan ($15.2 billion) production expansion, but local governments will cover the lion's share of the cost, enabling the company to take on South Korean rivals at a time when China is looking to shift the nature of its economic growth to quality from quantity.

One part of this is a new production plant for organic light-emitting diode screens for such devices as smartphones that BOE announced Thursday. Located in the city of Chongqing, it will use the latest sixth-generation substrates. The company plans to bring it into operation by the end of 2020 and have the capacity to churn out 48,000 units a month.

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