BEIJING, 19th November, 2024 (WAM) -- The 21st China International Semiconductor Expo (IC China 2024), themed “Pooling Sector-wide Resources, Coupling High-tech Industries,” kicked off in Beijing on Monday.
According to China Economic Net, recent data indicates that the market size of China's semiconductor industry reached US$179.5 billion in 2023. With the completion of inventory adjustments and an increase in self-sufficiency, this market size is projected to grow to US$238 billion by 2027.
Ki-hyun Ahn, Executive Vice President of the Korea Semiconductor Industry Association (KSIA), highlighted the growing importance of semiconductor supply chain stability. He noted the projected increase in semiconductor trade between China and Korea to US$68.8 billion but warned about the impact of global uncertainties. To address these challenges, Ahn emphasised the need for enhanced international cooperation to ensure a resilient supply chain and meet future technological demands.
Swee Kiang (SK) Fong, Representative of the Chairman of Malaysia Semiconductor Industry Association (MSIA), proposed more specific policies, emphasising that in order to deepen the semiconductor cooperation between China and Malaysia, even the entire Southeast Asia, the two countries should establish a joint R&D centre, focusing on emerging technologies such as AI chips, low-function design and 5G.
Secondly, the production capacity of various countries should be further coupled to create a strong regional supply chain to better deal with risks. In addition, all parties should focus on automotive-grade semiconductor research and development to promote innovation in power management, battery systems and ADAS, so as to meet the requirements of the rapidly growing market.
The IC China 2024 conference serves as a platform for industry leaders to exchange insights, explore partnerships, and drive innovation in the semiconductor sector.