China has been making strides to decrease its dependence on foreign companies who make semiconductors. According to our report entitled "Mainland China's Semiconductor and Equipment Markets: Analysis and Manufacturing Trends," China imported 445.13 billion integrated circuits in 2019, an increase of 6.6% year-on-year. The amount of imports was $305.55 billion, down 2.1% YoY. The export of integrated circuits was 218.7 billion units, an increase of 0.7% YoY. The export value was $101.58 billion, an increase of 20% year-on-year.
Semiconductor Manufacturing International (SMIC) (OTCQX:SMICY) is the fifth largest pure play foundry (a foundry that