China imports 9.5% more LCD panels at higher price

China's imports of LCD (liquid crystal display) panels surged 9.5% year-on-year to 1.95 billion in 2007, according to sources with the General Administration of Customs on Sunday.

The average import price was up 15.5% to US$20.9, partly boosted by the strong demand in the world's markets, according to the customs sources. The value of the arrivals soared 26.5% to US$40.75 billion.

Foreign-funded companies made up about 1.38 billion imported LCD panels, accounting for 70.8% of the total, up 12.9%. Most of the imports were large seven-generation products, according to the customs sources, while homegrown products were four- and five-generation ones.

Last year, the rising prices, driven by the growing demand in the TFT-LCD market, enabled Chinese LCD panel manufacturers to make a turnaround. Some manufacturers' operating profit grew more than 20% in the second half of the year.