Encouraged by government pushes for increased self-sufficiency, China’s companies are raising investments in the domestic semiconductor sector, reports the South China Morning Post. Last year saw integrated circuit (IC) sales jump 18% to the highest growth rate in three years.
China’s IC sales hit RMB 1.05 trillion ($158.6 billion) in 2021, an 18.2% jump from a year earlier, according to data released on Wednesday by the China Semiconductor Industry Association, which represents 744 companies in the industry. It is the fastest pace in the past three years.
Providing a breakdown, the association said sales of the manufacturing sector increased 24.1% to RMB 317.6 billion, higher than the growth rate of the design sector and the packaging and testing sector, which were up 19.6% and 10.1% respectively.