The cartographer number of the day: domestic Chinese IC revenue nearly doubled since 2020. Context for every export-control debate and for the China-baskets selloff the desk has been tracking without a driver - the domestic substitution engine is not slowing.
Demand for Chinese chips is skyrocketing: Chinese integrated circuit industry revenue jumped +22% YoY in 2025, to a record $245 billion. Since 2020, Chinese chip industry sales have nearly doubled. As a result, China now accounts for ~6% of the global semiconductor market.
The cartographer number of the day: domestic Chinese IC revenue nearly doubled since 2020. Context for every export-control debate and for the China-baskets selloff the desk has been tracking without a driver - the domestic substitution engine is not slowing.
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