Even with increased restrictions from the US aimed at limiting China’s semiconductor trade, the country’s exports in this sector have surprisingly held strong, breaking away from a general downward trend. In the first 11 months of 2024, China exported a record $144.7 billion worth of integrated circuits, which is nearly a 19% increase compared to the same time last year, according to recent customs data.
This growth is fueled by rising global demand for semiconductors, especially in the artificial intelligence (AI) field, as well as China’s ability to produce older, widely-used chips. While these chips may not be the newest in technology, they are still essential for many devices, giving Chinese manufacturers a competitive advantage. China’s proficiency in producing affordable 28-nanometer chips has helped it capture a bigger share of the global market, making its exports very competitive.
Economists indicate that breaking through technological challenges often leads to more domestic production and increased exports. However, this can also result in making too many products, which is a concern for China’s semiconductor industry going forward. Despite these difficulties, China’s export growth continues to stand out in a challenging global trade environment.
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