CX Briefing: ASML Expects China Sales to Hold Up This Year

A rundown of the news making headlines in and around China:

ASML’s China sales: Dutch lithography titan ASML Holding N.V. reported better-than-expected earnings in the second quarter. The company, a major player in the global chipmaking supply chain, said revenue hit 7.7 billion euros ($8.9 billion), up 23%, while net profits came to 2.3 billion euros, a 45% increase. President and CEO Christophe Fouquet said that 27% of revenue came from the Chinese mainland, adding that he expects sales in the region to account for over 25% for the whole year. A major uncertainty for the year ahead will be U.S. trade policy, both in terms of tariffs and restrictions on sales of chips to China.