Chinese imports of semiconductor-making equipment plunged in November, as US export controls aimed at slowing Beijing’s technological advancement took a bite, reports The Wall Street Journal. Chinese customers bought $2.3 billion worth of chip-making equipment in November, a drop of 40% from a year earlier, according to the country’s customs bureau.
November’s semiconductor imports marked the lowest level since May 2020 and are down sharply from a recent peak of $4 billion in June 2021, customs data show.
The drop in imports followed new restrictions imposed in October by Washington on the export of advanced semiconductors and chip-manufacturing equipment to China. The Commerce Department said at the time that it wanted to prevent American technology from advancing China’s military and surveillance capabilities.