China Accelerates Chip Imports as US Tightens Semiconductor Restrictions

Chinese firms stockpile chips and expand exports in response to new US curbs targeting advanced semiconductor technologies.

China's semiconductor imports rose 14.8% in 2024, reaching 501.47 billion chips, as companies prepared for stricter US export restrictions.
The US imposed new bans on high-bandwidth memory (HBM) chips, critical for AI applications, and restricted access to certain chipmaking tools and software.
China's domestic semiconductor production is growing, with a focus on mature process nodes, but still lags behind Western competitors in advanced technologies.
Chinese integrated circuit exports also surged, growing 18.8% year-on-year to a record $144.7 billion, driven by global demand for legacy chips.
Beijing has responded to US measures with an antitrust investigation into Nvidia and restrictions on exports of key minerals like gallium and germanium.