Chinese Imports of Chip Gear Hit Record $26 Billion This Year

(Bloomberg) — China’s imports of equipment needed to make semiconductors reached record levels in the first seven months of the year as tech firms increased purchases in case the United States and its allies tightened restrictions on their access to critical technologies.

Chinese firms bought almost $26 billion-worth of chipmaking machinery, according to trade data released by China’s General Administration of Customs this week. That surpassed 2021’s previous high mark and comes as U.S., Japanese and Dutch officials work on restricting access for Chinese companies.