On August 18, according to the Hong Kong Economic Journal, Grudev, representative of the Russian Federation’s Commercial Representative Office in China, stated at an industry conference held in Shenzhen that Russia hopes to further increase the total trade volume between China and Russia in the LED industry and attract advanced Chinese companies to set up factories in Russia.
Grudev said that the Russian LED industry developed rapidly last year, with a growth rate of 250%, and LED lighting accounted for 10% of the market share of the Russian lighting industry.
Data shows that the sales volume of light bulbs in the lighting market last year was 1 billion, with sales of 40 billion rubles.
The Russian government has introduced a series of measures to promote energy-saving light sources. It is expected that by 2016, the market share of LED lighting in the Russian lighting industry will increase to approximately 35%
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