ASML’s exports to China jumped ahead of restrictions

Paul van Gerven
Leestijd: 1 minuut

ASML’s shipments to China increased considerably following the announcement of Dutch export restrictions at the end of June, according to calculations by Bloomberg based on Chinese customs data. Shipments jumped from 260 million dollars in July to 710 million dollars in August and 1.3 billion dollars in September, followed by another very busy three months. Year-on-year monthly growth during this period reached as high as 1,000 percent.

The Dutch export restrictions cover most of ASML’s DUV immersion line-up. These measures went into effect on 1 September, but the Veldhoven company was granted a grace period until 1 January. Nonetheless, reportedly at the behest of the US, the Dutch government ordered the cancellation of several deliveries in December. In the meantime, Washington has introduced additional curbs of its own, essentially preventing a number of Chinese companies from procuring immersion lithography equipment.

Source: Bloomberg

China’s import of chip gear in general soared to 39.6 billion dollars, close to the 2021 record of 41 billion dollars. Chinese firms are stockpiling semiconductor machinery to advance domestic chip-making capabilities, a goal assigned a high priority by Beijing. Efforts are mostly focused on mid-critical to mature nodes, but a few companies target sub-10nm manufacturing – with some success, though it’s unclear what scale these operations can reach.

Speaking at the World Economic Forum, Intel CEO Pat Gelsinger said that China’s semiconductor industry lags behind the global’s by about a decade, a gap he feels will continue to exist for at least another decade.

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