Chinese Chip Gear Imports Reach All-Time High of $26 Billion in 2024
China imported nearly $26 billion worth of semiconductor manufacturing equipment in the first seven months of 2024, setting a new record.
Chinese companies are investing heavily in semiconductor equipment to prepare for future restrictions from the US and its allies.
Chinese firms are buying more lower-end chipmaking tools to bypass export controls on advanced technologies.
Dutch exports to China, particularly from ASML Holding NV, exceeded $2 billion in July 2024, driven by sales of older lithography machines.
ASML saw a 21% increase in sales to China, with the country accounting for nearly half of its revenue.
China's semiconductor output is expected to grow by 14% to 10.1 million wafers per month by 2025, making up nearly one-third of global production.
The US has imposed strict export controls to curb China's access to advanced semiconductor technologies.
The increase in semiconductor imports highlights China's challenges and its efforts to strengthen its chip manufacturing despite international restrictions.