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Chips offer big growth potential
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China鈥檚 imports of integrated circuits passed a record US$300 million last year, but the country still needs a 鈥渉uge volume鈥 鈥 creating great potential to grow domestic production.
Officials told an industry conference yesterday that the booming automotive, smartphone and smart devices markets will fuel demand through 2022.
Chip imports have been more than US$200 billion a year since 2014 and hit a record US$320 billion last year.
This shows the massive potential for the chip market in China and underscores the need to develop a local industry and ecosystem, Ding Wenwu, president of the China National IC Industry Investment Fund, told the annual Semicon China event, part of the Shanghai International IT & Electronics Fair, Asia鈥檚 biggest IT fair by space and visitors.
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