CHINA's imports of equipment needed to make semiconductors reached record levels in the first seven months of the year as tech firms increased purchases in case the United States and its allies tightened restrictions on their access to critical technologies, reports Caixin.
Chinese firms bought almost US$26 billion of chipmaking machinery, according to trade data released by China's General Administration of Customs this week. That surpassed 2021's previous high mark and comes as US, Japanese and Dutch officials work on restricting access for Chinese companies.
Chinese orders from firms such as Tokyo Electron, ASML Holding NV and Applied Materials have soared in the past year. The spending spree has helped drive Dutch exports to China to new highs, exceeding $2 billion in July for only the second time.
Dutch company ASML's sales to China surged 21 per cent in the second quarter to hit almost half of its total revenue, with sales consisting of older systems not covered by the US restrictions. This is allowing Beijing to make more mature types of semiconductors.