China's imports of semiconductors have risen significantly during recent years thanks to rising domestic demand, with the value exceeding $300 billion for the first time in 2018, Chinese news site chinanews.com reported over the weekend.
Semiconductors play an increasingly vital role in the Chinese auto industry, as can be seen in many areas such as wireless charging, new-energy vehicles (NEVs) and big data management.
Infineon Technologies AG, a Germany-based semiconductor producer, said the company will strengthen cooperation with Chinese companies in domestic sectors such as NEVs and smart driving this year, the report said.
In previous years, the electrification of the automobile has been largely advanced by the semiconductor sector. More than 90 percent of industrial innovations are expected to be associated with the growth of semiconductor technology in the future, read the report.
With the rapid development of China's electric vehicle market, the demand for power semiconductor devices is increasing, and expanding production capacity is the first priority, it said.
The nation's semiconductor market will rise from $213 billion in 2017 to $262 billion in 2020, and China's self-sufficiency rate of semiconductors is expected to increase from 11.2 percent to 15 percent during the same period, according to industry information website laoyaoba.com.
But nearly 85 percent of the market demand depends on imports, the report noted
