China Chip Imports Suffer Steepest Drop on Record After US Curbs

• Tepid demand also prolonging global chip industry doldrums
• Washington is restricting Chinese firms’ access to AI chips

China’s chip imports suffered their steepest drop on record last year, hamstrung by prolonged economic uncertainties and US export controls.

The value of integrated circuits imported by the world’s largest semiconductor market fell 15.4% to $349.4 billion, the sharpest fall since Chinese customs data became available in 2004 and falling for the second straight year. Shipment volume also declined by 10.8%.

Read more at: https://www.bloomberg.com

Curated by Arun