Chinese imports of chip gear hit record $26 billion this year

Quick Summary:

Chinese firms imported almost $26 billion worth of chipmaking machinery, according to fresh trade data released by China’s General Administration of Customs this week.

That surpassed the previous high mark in 2021 and comes as American, Japanese and Dutch officials work on increasing restrictions on Chinese companies.

During the period, Chinese companies bought more lower-end equipment after the US and its allies tightened controls on their access to the most cutting-edge technology.

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Article Details

Author / Journalist: Bloomberg

Category: Business

Markets: IndiaChadChinaJapan

Topics: Tokyo electron Semiconductor SEMI trade group China ASML Holding NV

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-23 @ 09:58:36 (7 hours ago)

News Timezone: GMT +8:00

News Source URL: economictimes.indiatimes.com

Language: English

Article Length: 599 words

Reading Time: 4 minutes read

Sentences: 23 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Economic Times

News ID: 22223910

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Official Website: economictimes.indiatimes.com

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