China has become the main force in the growth of the global semiconductor market, with cumulative imports of 1.5 trillion yuan

Recently, at a regular press conference of the Ministry of Commerce, a spokesperson of the Ministry of Commerce stated that as a major global electronic product manufacturing country, China's demand for semiconductors has steadily increased, and has become the main driving force for the growth of the global semiconductor market. As of early September this year, my country's cumulative imports of integrated circuits reached 1.5 trillion yuan, a year-on-year increase of 15.3%...

Earlier this month, Gao Feng, a spokesman for the Ministry of Commerce, said at a regular press conference that in the first eight months of this year, my country's foreign trade imports and exports gradually stabilized and improved, and the situation was better than expected. As of early September this year, my country's cumulative imports of integrated circuits reached 1.5 trillion yuan, a year-on-year increase of 15.3%. Against the backdrop of the impact of the epidemic and the trade war, my country's demand for semiconductors has continued to rise steadily, becoming the main driving force for the growth of the global semiconductor market.

From January to August this year, my country's cumulative imports of integrated circuits amounted to 1.5 trillion yuan, a year-on-year increase of 15.3%, 17.6 percentage points higher than my country's foreign trade imports.

The Ministry of Commerce said that the main reason for the continued growth of my country's integrated circuit imports in recent months is the recovery of market demand. The changes in lifestyle caused by the epidemic have stimulated the demand for integrated circuits. For example, online office, distance education, and Internet medical care have driven the demand for servers, personal computers, tablets, medical electronics and other products.

In addition, my country is vigorously promoting the construction of 5G networks, and companies are actively preparing for and increasing their purchasing efforts in consideration of the impact of the epidemic on the supply chain, which has also driven the growth of integrated circuit imports. As a major global electronic product manufacturing country, my country's demand for semiconductors has steadily increased, becoming the main driving force for the growth of the global semiconductor market.

As my country attaches great importance to the development of semiconductors, the value of my country's semiconductor market is also rising rapidly. my country plans to support the semiconductor industry to increase the chip self-sufficiency rate from the current 30% to 70%. There are also reports that the government will give higher priority to the development of the third-generation semiconductor industry until my country's semiconductor industry truly achieves independence.

On the other hand, with the rapid development and widespread application of digital technology in recent years, the vigorous development of digital economy and trade has become a highlight of economic development and international economic and trade cooperation in various countries. In this regard, Gao Feng said that the Ministry of Commerce will actively promote the acceleration of digital trade development in conjunction with relevant departments in accordance with the decisions and arrangements of the CPC Central Committee and the State Council.

First, we should speed up the improvement of the top-level design. Since the beginning of this year, the Ministry of Commerce has worked with the Central Cyberspace Affairs Commission, the Ministry of Industry and Information Technology and other departments to study the digital trade system framework, put forward a digital trade work plan, and promote the establishment of a digital trade expert working group.

Second, we will study digital trade policies. As an emerging form of trade, the Ministry of Commerce will work with relevant departments to conduct in-depth research on digital trade policy issues, design a good policy framework and specific measures, and create a good policy environment for the development of digital trade.

The third is to deepen the practice of digital trade. At the beginning of this year, the Ministry of Commerce, together with the Central Cyberspace Affairs Commission and the Ministry of Industry and Information Technology, selected the first batch of 12 digital service export bases based on comprehensive evaluation, supported and guided these bases to conduct trials first, and promoted the improvement of digital trade policies and systems in digital trade practices.