Despite China's intentions to become self-sufficient in chip production, this year, Chinese companies increased their chip imports year-over-year as consumer electronics, PC, and server markets began to rebound last year.
In the first seven months of 2024, China imported 308.1 billion semiconductor units, valued at about $212 billion, which indicates a 14.5% increase in volume and an 11.5% rise in value compared to the same period last year, reports South China Morning Post citing General Administration of Customs of China. In 2023, China's total semiconductor imports were valued at $349 billion, a 15.4% decline from the previous year and was in line with 2020, according to DigiTimes citing China customs.
