Overview

• China is set to control 40% of the global legacy chip market by 2027, doubling its share since 2015.
• Chinese companies imported a record $26 billion worth of chipmaking equipment this year.
• US export controls have pushed China to focus on mature chip technologies, driving down prices globally.
• The US has invested $3.4 billion in legacy chip production, far less than its spending on advanced chips.
• China's strategy includes heavy subsidies and loans to bolster its semiconductor industry.