China’s chip industry is growing faster than anywhere else in the world, after U.S. sanctions on local champions from Huawei Technologies to Hikvision spurred appetite for home-grown components.
Nineteen of the world’s 20 fastest-growing chip industry firms over the past four quarters, on average, hail from the world’s No. 2 economy, according to data compiled by Bloomberg. That compared with just eight at the same point last year. Those China-based suppliers of design software, processors and gear vital to chipmaking are expanding revenue at several times the likes of global leaders Taiwan Semiconductor Manufacturing Co. or ASML Holding NV.