China's drive for semiconductor self-sufficiency begins to pay off

China now has nine chipmakers in the global top 50, up from only one in 2009 thanks to a multi-billion dollar drive towards semiconductor self-reliance, Reuters reported. Clients including Chinese smartphone manufacturers have helped domestic chip designers amass a market share of almost 20%, according to data analysis firm TrendForce. To promote domestic development, the government has tasked chip firms with raising revenue by more than 20% annually and building “a group of world-class companies” by 2030. While China’s chip tech lags its rivals by four to five years, it will likely seize second place in the $20 billion-plus chip design industry from Taiwan this year, said Bernstein analyst Mark Li.