[News] U.S. Blockade Fails? China’s Chip Exports Surge for 14 Consecutive Months, Hitting USD 160 Billion in 2024

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Amid the tightening U.S. chip export controls, China’s semiconductor industry seems to be unfazed, as its integrated circuit exports in 2024 reached roughly USD 160 billion, setting a historical record and maintaining a 14-month consecutive increase, as noted by Chinese media outlet MyDrivers.

Citing customs data, the report notes that China’s integrated circuit exports in 2024 reached USD 159.499 billion (¥1,135.16 billion), which marks a 17.4% year-on-year growth. Moreover, the sector’ output surpassing that of mobile phones, which exported USD 134.363 billion in 2024, the report adds.

According to MyDrivers, despite the U.S. intensifying its chip export control measures in recent years, China’s integrated circuit exports have continued to show growth, rising from USD 101.578 billion in 2019 to USD 159.499 billion in 2024.

In other words, although there was a brief decline in 2023 (from USD 153.918 billion to USD 135.973 billion), the export value has largely followed a steady upward trajectory, the report adds.

In October 2022, the Biden administration implemented export controls to restrict China’s access to advanced US semiconductors and technologies. Shortly after, the U.S. banned sale of new telecommunications equipment from Chinese tech giants Huawei and ZTE.

According to TrendForce, between 2024 and 2027, the share of mature process capacity in China is expected to grow from 34% to 47% globally, surpassing that of Taiwan (43% in 2024 and 36% in 2027).

Against this backdrop, major European chipmakers such as Infineon, NXP, and STMicroelectronics extended collaboration offers to Chinese fabs. As highlighted by a STCN report, STMicroelectronics has already begun its collaboration with Hua Hong Semiconductor, China’s second-largest foundry, announcing a joint effort to advance the production of 40nm microcontroller units (MCUs) to meet market demand and optimize the supply chain.

Meanwhile, according to an Anue report, NXP has also announced plans to expand its production capacity in China, with the goal of establishing a complete Chinese supply chain.

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