Veldhoven, Netherlands — Chinese demand for semiconductor manufacturing equipment has not slackened, despite a slowdown in the country’s economic growth and trade frictions with the US, the CEO of toolmaker ASML says. “We had about €1.7bn of sales there last year, and this year is going to be about equally strong,” Peter Wennink said on Wednesday. “That is a trend that will continue. They will not stop, the Chinese will not back down, not back off, and we as a supplier will keep shipping,” he said. “The Chinese semiconductor industry is just at the beginning.” Wennink predicted the Chinese mainland market would thrive for years to come, as the government has made it a priority to become more self-sufficient in semiconductor chips. While China processes more than half the world’s computer chips, assembling them and putting them in devices like mobile phones, its share in manufacturing remains small compared with that of South Korea and Taiwan. “Their import of chips is higher than th...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now