China Leads the World's Largest Semiconductor Chip Market Share

The Semiconductor Industry Association (SIA) reports that semiconductor sales in 2022 are projected to experience remarkable growth, reaching US$601 billion.

Currently, the largest market in the Asia-Pacific region is China, accounting for 56 percent of the Asia-Pacific market. China is also the world's largest individual semiconductor market, representing 34.6 percent of the total global market.

China led the market with total sales of US$192.5 billion in 2021, marking a year-on-year increase of 27.1%, as cited by *Grid.id*.

Recently, China's Ministry of Commerce (Mofcom) strongly opposed the United States' latest policy tightening semiconductor exports to the world's most populous nation. This policy will impact trade relations between companies in both countries and threaten the stability of the global industry and supply chains, according to a spokesperson for Mofcom in Beijing on Monday (October 10).

China has removed nine of its entities from the trade restriction list. Mofcom intends for businesses from both countries to find the best solutions to achieve mutual benefits. However, simultaneously, the US added 31 Chinese entities to its trade restriction list, tightening export controls to China.

"This is a form of technological intimidation that not only violates the spirit of cooperation between the two countries but also ignores the real cooperation on the ground between both sides," stated Mofcom, as reported by *Antara*.

According to Mofcom, the US policy not only harms the rights and interests of Chinese companies but also the interests of US exporters.

China calls on all parties to strengthen cooperation and jointly build a global industry and supply chain system that is secure, stable, efficient, open, inclusive, and mutually beneficial. Meanwhile, Chinese Foreign Ministry (MFA) spokesperson Mao Ning emphasized on Tuesday that technological innovation is part of the progress of human development.

"No country can claim it exclusively for themselves, especially if someone misuses their technological advantage to suppress other countries," she said in a regular press briefing.

Semiconductors are highly useful in electronics, meeting the demands of modern society.