China will spend $300 billion on semiconductor imports as U.S. squeezes chip supplyOctober 25, 2020 4:06 pm
China will spend $300 billion on semiconductor imports as U.S. squeezes chip supply BY EAMON BARRETT August 27, 2020 12:54 PM GMT+8 https://fortune.com/2020/08/27/china-semiconductor-chip-imports-us-ban-huawei/
>….. China will spend over $300 billion on importing semiconductors this year, an industry expert told the World Semiconductor Conference in Nanjing on Wednesday, as the U.S. continues to put pressure on the country’s access to the most advanced chips.
“China is the world’s largest importer of chips,” Wei Shaojun, vice chairman of the China Semiconductor Industry Association, said on Wednesday. China imported $301 billion worth of semiconductors last year—more than the $238 billion it spent on crude oil. Wei said that China will still spend $300 billion or more on semiconductors this year so long as “nothing out of the norm happens.”