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In a liquid crystal substrate in which a matrix of reflecting electrodes is formed on a substrate, a transistor is formed corresponding to each reflective electrode and a voltage is applied to the reflective electrode through the transistor. A silicon oxide film having a thickness of 500 to 2,000 an

In a liquid crystal substrate in which a matrix of reflecting electrodes is formed on a substrate, a transistor is formed corresponding to each reflective electrode and a voltage is applied to the reflective electrode through the transistor. A silicon oxide film having a thickness of 500 to 2,000 angstroms is used as the passivation film and the thickness is set to a value in response to the wavelength of the incident light to maintain a substantially constant reflectance.

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1. A substrate for a display panel, comprising: a plurality of reflecting electrodes that are formed in a pixel region, each of the plurality of reflecting electrodes being positioned at a first position corresponding to one pixel of a plurality of pixels;a plurality of first switching elements that

1. A substrate for a display panel, comprising: a plurality of reflecting electrodes that are formed in a pixel region, each of the plurality of reflecting electrodes being positioned at a first position corresponding to one pixel of a plurality of pixels;a plurality of first switching elements that are formed in the pixel region, each of the plurality of first switching elements being positioned at a second position corresponding to one pixel of the plurality of pixels;a light shielding film that covers at least a part of one first switching element of the plurality of first switching elements;a driving circuit that is positioned outside of the pixel region, the driving circuit including a plurality of second switching elements; anda wire that is positioned in the driving circuit, the wire being electrically connected to one second switching element of the plurality of second switching elements. 2. The substrate according to claim 1, the light shielding film being formed in a first layer in which the wire is formed. 3. The substrate according to claim 2, the plurality of first switching elements being a plurality of first transistors, a gate of one first transistor of the plurality of first transistors being formed between the first layer and a semiconductor region including a source and a drain of the one first transistor. 4. The substrate according to claim 1, a material constituting the light shielding film being identical with a material constituting the wire. 5. A display panel comprising: the substrate of claim 1;a transparent substrate having a counter electrode and being opposed to the substrate, the transparent substrate being separated from the substrate by a gap; anda liquid crystal material encapsulated into the gap between the substrate and the transparent substrate. 6. An electronic device comprising the display panel of claim 5 as a display section. 7. A projection display device comprising: the electronic device of claim 6;a light source;the display panel modulating the light from the light source; anda projection lens for projecting the light modulated by the display panel. 8. A substrate for a display panel, comprising: a plurality of pixel electrodes that are formed in a pixel region, each of the plurality of pixel electrodes being positioned at a first position corresponding to one pixel of a plurality of pixels;a plurality of first switching elements that are formed in the pixel region, each of the plurality of first switching elements being positioned at a second position corresponding to one pixel of the plurality of pixels;a light shielding film that covers at least a part of one first switching element of the plurality of first switching elements;a driving circuit that is positioned outside of the pixel region, the driving circuit including a plurality of second switching elements; anda wire that is positioned in the driving circuit, the wire being electrically connected to one second switching element of the plurality of second switching elements. 9. The substrate according to claim 8, the light shielding film being formed in a first layer in which the wire is formed. 10. The substrate according to claim 9, the plurality of first switching elements being a plurality of first transistors,a gate of one first transistor of the plurality of first transistors being formed between the first layer and a semiconductor region including a source and a drain of the one first transistor. 11. The substrate according to claim 10, the semiconductor region being formed in a well. 12. The substrate according to claim 8, a material constituting the light shielding film being identical with a material constituting the wire. 13. The substrate according to claim 8, the plurality of second switching elements being a plurality of second transistors. 14. The substrate according to claim 8, the wire being electrically connected to a third switching element of the plurality of second switching elements. 15. A substrate for a display panel, comprising: a plurality of pixel electrodes that are formed in a pixel region, each of the plurality of pixel electrodes being positioned at a first position corresponding to one pixel of a plurality of pixels;a plurality of first transistors that are formed in the pixel region, each of the plurality of first transistors being positioned at a second position corresponding to one pixel of the plurality of pixels;a light shielding film that covers at least a part of one first transistor of the plurality of first transistors;a driving circuit that is positioned outside of the pixel region, the driving circuit including a plurality of second transistors; anda wire that is positioned in the driving circuit, the wire being electrically connected to one second transistor of the plurality of second transistors. 16. The substrate according to claim 15, the light shielding film covering a first gate of the first transistor. 17. The substrate according to claim 15, the light shielding film covering at least a part of a first semiconductor region of the first transistor, the first semiconductor region including a first source and a first drain of the first transistor. 18. The substrate according to claim 17, the first semiconductor region being formed in a well. 19. A substrate for a display panel, comprising: a plurality of first switching elements that are formed in a pixel region;a light shielding film that covers at least a part of one first switching element of the plurality of first switching elements;a driving circuit that is positioned outside of the pixel region, the driving circuit including a plurality of second switching elements; anda wire that is positioned in the driving circuit, the wire being electrically connected to one second switching element of the plurality of second switching elements. 20. The substrate according to claim 19, the light shielding film being formed in a first layer in which the wire is formed. 21. The substrate according to claim 20, the plurality of first switching elements being a plurality of first transistors,a gate of one first transistor of the plurality of first transistors being formed between the first layer and a semiconductor region including a source and a drain of the one first transistor. 22. The substrate according to claim 19, a material constituting the light shielding film being identical with a material constituting the wire. 23. A substrate for a display panel, comprising: a plurality of first transistors that are formed in a pixel region;a light shielding film that covers at least a part of one first transistors of the plurality of first transistors;a driving circuit that is positioned outside of the pixel region, the driving circuit including a plurality of second transistors; anda wire that is positioned in the driving circuit, the wire being electrically connected to one second transistor of the plurality of second transistors. 24. The substrate according to claim 23, the light shielding film being formed in a first layer in which the wire is formed. 25. The substrate according to claim 24, a gate of one first transistor of the plurality of first transistors being formed between the first layer and a semiconductor region including a source and a drain of the one first transistor. 26. The substrate according to claim 23, a material constituting the light shielding film being identical with a material constituting the wire.