China’s Imports of Chip-Making Gear Drop to Lowest Since Mid-2020
- Chinese firms bought $2.3 billion of machines to make chips
- US increased export restrictions, pressuring allies to do same
China’s purchases of machines to make computer chips contracted in November to their lowest in more than two years, hammered by cratering electronics demand and new US export restrictions that are limiting the ability of Chinese firms to buy the most advanced equipment.
Chinese firms imported $2.3 billion worth of machines used in semiconductor manufacturing in November, down by more than 40% from a year earlier to the lowest level since May 2020, according to customs data released Wednesday. Imports from the six major supplying nations including the US, Japan and the Netherlands all fell at a double digit pace in the month, even before some of those nations agreed to join the US in further limiting shipments of the most advanced gear to China.