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China's Chip Imports Drop as tech war continues with US

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In the 11 months that ended on November 30 of this year, China's imports of semiconductors experienced a sharp decline. According to South China Morning Post (SCMP), a wide-ranging tech battle with the United States, economic challenges, and production slowdowns are the main issues weighing down the world's largest market for complex processors. According to statistics released by the General Administration of Customs on Wednesday, Dec. 7, the number of integrated circuits (ICs) imported during that period fell by 14.4%, from 582.1 billion to 498.5 billion units, compared to the same period the year before. However, for the first 11 months of 2022, the total value of imported ICs only decreased by 1.8% to $381.2 billion. China has been buying semiconductors at greater costs, despite the fact that supply shortages and a faltering global economy have caused semiconductor prices to decline globally. Semiconductor Production China stated that semiconductor imports fell from 41.1 billion in October to 40.5 billion in November, a 1.4% month-over-month decline. This was better than October's 13.7% reduction from IC imports in September, despite the fact that it was still a decline. China's IC exports, meanwhile, continued their fast decline, falling 11.7% annually to 250.5 billion units in the 11 months leading up to November. This decline was greater than the 10.8% decline in the first ten months of the current year. Also Read: Graphene Might Make Chips Ten Times Faster Than Now The sudden drop in chip imports and the new trade restrictions imposed by Washington in early October coincided with the global decline in the semiconductor industry as a chip shortage transformed into a glut. The US Unverified List now includes a total of 31 Chinese IT businesses, research institutions, and other entities. The entities on the list are not permitted to receive goods covered by the Export Administration Regulations of the US government, hence it serves as a trade restriction. Semiconductors have long surpassed bulk commodities and crude oil as China's main imports. The official manufacturing purchasing managers' index (PMI), according to the National Bureau of Statistics (NBS), dropped from 49.2 in October to 48 in November. The indicator fell below the 50-point threshold that separates monthly expansion from contraction for the second consecutive month, reaching its lowest level since April.

By Raulf Hernes

If you ask me raulf means ALL ABOUT TECH!!

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