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Semiconductor sales by Chinese manufacturers are said to have reached ¥653.2bn in 2018 – that's about $97.3bn, or around 20 per cent of global semiconductor revenue for the year ($476.7bn).
The number was claimed by Ren Aiguang, head of the integrated circuits office at China's Ministry of Industry and Information Technology, at a meeting held in the manufacturing hub of Shenzhen, and reported in the state-owned Xinhua News.
Silicon - Market - Compound - Growth - Rate
This means that since 2012, the Chinese silicon market has been expanding at a compound annual growth rate of 20.3 percent, nearly three times the global average.
The rapid growth could be seen as a result of the application of the principles of economic self-reliance – as made popular by Chairman Mao – to the country's chip industry.
Efforts - Doubt - Trade - War - China
Such efforts were no doubt accelerated by the ongoing trade war between China and the US, where semiconductors play a key role, as well as unrelated sanctions against Chinese businesses beloved by the Trump administration.
In 2018, ZTE, one of the world's largest smartphone manufacturers, was forced to halt production after the US government slapped it with a seven-year ban on crucial components, including silicon, from US-based Qualcomm.
Research - Deloitte - China - Cent - Semiconductors
According to research by Deloitte, China currently consumes more than 50 per cent of all semiconductors made worldwide,...
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