China imports record-high $26 billion of semiconductor equipment to make chips in 2024 so far

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Chinese companies have imported around $26 billion worth of semiconductor manufacturing equipment, according to new trade data released by China's General Administration of Customs this week.

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In a new report from Bloomberg, we're finding out that Chinese imports of semiconductor equipment hit a new record for the first 7 months of 2024, as Chinese companies are racing to increase pricing in case the United States and its allies continue to block them from purchasing semiconductor-related equipment.

ASML makes the world's leading-edge High-NA EUV lithography machines, used by semiconductor giants TSMC, Samsung, and Intel has been a recent -- and big-paying -- customer of ASML's machines. ASML is based in the Netherlands, and wouldn't you know, shipments from ASML to China surged 21% in Q2 2024 to almost half of ASML's total revenue.

• Read more: China's imports from Netherlands skyrocket 32% in April, and we all know what they're buying
• Read more: US demands ASML stop servicing its machines already sold to Chinese customers

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ASML is the sole supplier of most of the advanced lithography equipment to make the most bleeding-edge chips on the planet, with China's Semiconductor Manufacturing International Corp. has been using older-generation ASML lithography machines, hitting a technological breakthrough last year, reports Bloomberg News.

• Read more: China's new Hygon C86-7490: based on AMD Zen 1, custom CPU with 64C/128T, DDR5, SP5 socket
• Read more: TSMC receives 'super rush orders' from China customers willing to pay 40% premium on chips
• Read more: Ex-Samsung Display researcher gets 6 years in jail in South Korea, leaked OLED secrets to China
• Read more: ASML's former CEO says US and China 'Chip War' could 'continue for decades'
• Read more: US wants allies to stop China's semiconductor sector: next target is HBM memory for AI chips