An R&D staff at a lab in Taizhou's Jiaojiang district. [Photo/taizhou.com.cn]

The photoelectric industry in Taizhou's Jiaojiang district has been growing at an accelerated pace in recent years.

Jiaojiang has grown to be the world's largest production hub for precision photoelectric thin film components and Zhejiang's only development base for ultra-high-definition display devices.

In 2022, the output value of above-designated-size companies in the district's photoelectric industry hit 5.48 billion yuan ($790.81 million), accounting for nearly a half of Taizhou's total.

Currently, there are 13 enterprises engaged in the precision photoelectric industry, including three listed enterprises and one preparing to go public.

Some of them, including Zhejiang Crystal-Optech Co Ltd, the only domestic company that mass-produces augmented reality-powered heads-up display systems, have emerged as industrial leaders thanks to their sustained R&D efforts.

Headquartered in Jiaojiang district, the company delivered more than 40,000 AR-HUD systems in 2022, and the figure is expected to hit 300,000 this year, according to Xiong Bo, deputy general manager at Crystal-Optech.

Policy support from the local government has played a part in boosting the photoelectric industry's growth.

Eligible companies can apply for a government subsidy of up to 20 million yuan, according to Zheng Renjiao, chief engineer at the Jiaojiang bureau of economy, informationization, and science and technology.