China's display panel industry scale ranks first in the world with its annual production capacity reaching 200 million square meters.

Data from China Optics and Optoelectronics Manufactures Association Liquid Crystal Branch (CODA) shows that in 2021, the output value of China's display industry was about 586.8 billion yuan (about $84.05 billion), nearly eight times higher than 10 years ago while delivered display panels totaled about 160 million square meters, more than seven times that of a decade ago.

According to CODA, China's proportion of industry scale and display panel delivered area in the global market has increased to 36.9 percent and 63.3 percent respectively, ranking first in the world.

China has also made breakthroughs in the liquid-crystal display (LCD) field, with the global market size surpassing 70 percent.

As for the organic light-emitting diode (OLED), domestic enterprises have mastered the core technologies and are making technological innovations in high refresh rate and pixel geometry and other fields. Meanwhile, production scale has expanded rapidly, and the market share of small- and medium-sized OLED increased.

Statistics show that in the third quarter of 2022, the market share of OLED panels for domestic smart phones accounted for 30 percent of the global market, an increase of 10 percent over the same period last year.