Growth in Chinese chip production despite US sanctions

U.S. trade sanctions against the Chinese chip industry have increased the profits of semiconductor manufacturers in that country.According to the South China Morning Post, Chinese semiconductor equipment manufacturers achieved significant profitability in 2022. This is at a time when America and the West have long been trying to weaken China's semiconductor industry through economic and trade restrictions.
 
The paper viewed China's chip manufacturing growth as a sign of the country's semiconductor industry's drive for growth and innovation. Beijing recently supported dozens of hundreds of millions of dollars worth of semiconductor projects to boost demand for locally produced equipment. Meanwhile, Peter Wannick, chief executive of ASML Netherlands, pointed to the impact of US trade sanctions on Chinese companies' access to advanced equipment and said that given China's efforts to counter Washington's restrictions, the development of the country's semiconductor industry is logical.
 
The United States is seeking to prevent China from developing military technologies such as artificial intelligence, imitation nuclear weapons, and the development of hypersonic weapons. China, on the other hand, is trying to bolster its technological capabilities while ignoring growing US pressure.