China’s purchases of machines to make computer chips fell 27% last month from a year earlier as the US imposed new, sweeping sanctions to try and derail the country’s chip ambitions, reports the Bloomberg.
Chinese firms imported $2.4 billion worth of machinery used in semiconductor manufacturing last month, the lowest amount in more than two years after Washington broadened restrictions on the sale of the gear to the world’s No. 2 economy.
It’s unclear exactly how much imports were impacted by the sanctions, which were announced early in the month, but October was significantly weaker by value than any other month this year. Chinese purchases from overseas suppliers have fallen in seven of the 10 months for which data has been reported so far in 2022.