[ad_1]
China’s semiconductor imports grow by double-digits in 2024 ahead of new US export controls that seek to close loopholes for advanced chips
China’s semiconductor imports grew by double-digits in 2024 as companies raced to stockpile advanced chips ahead of new US export controls that were finally released on Monday by the outgoing Biden administration.
The country imported 549.2 billion integrated circuits (ICs) last year, up 14.6 percent on the previous year, according to new government data.
The total value of the year’s IC imports was some $385 billion (£315bn), up 10.4 percent year-on-year, the General Administration of Customs said.
The figure outpaced China’s imports of crude oil, which amounted to $325bn in 2024.
Chip stockpiles
Some Chinese companies have looked to bring in advanced chips suitable for uses such as AI data centres by buying from third-party suppliers in countries not covered by the US’ export measures.
The new trade regime introduced this week seeks to close such loopholes by instituting export limits on all but a handful of the closest US allies, with licences required for sales above those limits.
The new measures received criticism from US chip companies and industry groups, but were praised by organisations focused on US national security.
China’s Commerce Ministry said the measures were an example of “abusing export controls” and were a “blatant violation” of international trade rules.
China’s IC exports last year rose to 291.1 billion units, up by 11.6 percent year-on-year, customs data said.
Legacy chip exports
The total value of IC exports was $159bn, up 17.4 percent from the previous year.
The export figure for 2024 was nearly double the $84.6bn in exports for 2018, the year the trade conflict began between the US and China.
Chinese companies have been ramping up production of legacy chips for use in consumer goods such as televisions and washing machines, to the consternation of US authorities.
In late December the US launched a probe into China’s legacy chip industry, with US Trade Representative Katherine Tai saying “evidence indicates” the country seeks to dominate domestic and global chip markets through “extensive anticompetitive and non-market means”.
[ad_2]
Source link
