Until August 2024, China’s chip exports reached around 640.91 billion yuan ($89.85 billion), up 25.8 percent YoY, according to the official data.
Amid USA’s strenuous efforts to shatter China’s ambition of leading the global technology ecosystem, the latter’s tech and semiconductor firms are said to have made huge improvements in self-reliance and offered fierce competition in the international chip market. In fact, the chip farms in China have posted stellar first-half gains, claims a Chinese anonymous analyst.
China, which is furnished with 68 chip companies, have released their financial reports of the first half, which shows that around 40 companies have managed to have revenues of more than 50 percent. According to China’s state-owned investment company CITIC, there are around 157 A-share listed companies on China’s semiconductor industrial chain.
As per the report of Securities Times, the companies manufacturing storage chips, contact image sensor chips and system-on-a-chip products have managed to grab majority of profits. The crystal-clear picture of China’s semiconductor industry has been presented through these reports. The chip industry benefited massively from the revival of the consumer electronics market both domestically and internationally.
Ma Jihua, a veteran telecom industry observer, told the Global Times, Despite tough US sanctions in recent years, China’s semiconductor industry has not only survived but also thrived. We’ve seen significant growth in production capacity, especially in mature processes, with exports surging, particularly to Southeast Asian markets like Vietnam, Malaysia and Indonesia.”
Research fellow at the Beijing Academy of Social Sciences, Wang Peng, told that numerous factors including technological innovation, a ricochet in market demand, and policy support by the government will help China’s chip industry soar high in the market and will lead the global value chain through 2025. China is escalating its production at a massive scale and it was recently reported that 84.8 percent of Apple’s annual output of 230 million smartphones will be assembled in China.
