The Shineon (Beijing) Technology Co, a foreign-funded company that specializes in high-brightness LED packaging products, in the Beijing Economic and Technological Development Area, or E-town, recently got a contract with the Zhongguancun Development Group, a technology hub backed by the Beijing government, to build North China's largest high-quality, high-brightness LED production line.

Shineon will receive $6-million in funds from the group over the next two years to enlarge its LED production scale and enlarge its chip-on-board production line.

Shineon was set up by LED and management personnel who returned from the US's Bell Laboratories, in 2010, to produce high power chips through strong R&D technology. In only a few years, the company has become a major lighting solutions provider, providing lighting systems for many Chinese enterprises. Its CEO, Fan Zhencan, said they will stay on an innovative path and become China’s most important enterprise of its kind. It is already one of the fastest-growing high-tech companies in China according to Deloitte Touche Tohmatsu, a world leading accounting firm.