From Startup Fortune · · 1m 30s
China's September exports surge as chip shipments double
China's exports jumped 36.3% in September, with chip shipments doubling despite US restrictions.
In brief
China's exports jumped 36.3% in September, with chip shipments doubling despite US restrictions. China's September exports rose 36.3% year over year to $447.18 billion, exceeding forecasts and showing resilience in chip manufacturing despite US export controls. Originally reported by Startup Fortune.
China's September exports surge
China's customs agency reported a 36.3% jump in September exports, nearly 11 points above what economists had priced in.
Exports hit $447.18 billion
China's General Administration of Customs said on October 14 that exports rose 36.3% year over year in September, hitting $447.18 billion.
Economists forecasted 25.5% growth
A Reuters poll of economists had forecast 25.5% growth for September exports.
High-tech goods drove surge
High-tech goods such as semiconductors and autos helped fuel the rise, with passenger car exports surging 64% year over year.
US chip restrictions not effective
Washington has spent years trying to choke off China's access to advanced chips, but the September data shows restrictions have not stopped China's chip-adjacent manufacturing base.
ChangXin Memory Technologies IPO
ChangXin Memory Technologies debuted on the Shanghai Stock Exchange with shares soaring 466% on their first trading day after raising at least $8.6 billion.
Tencent's AI chip lease deal
Tencent signed a $7 billion, five-year deal to lease advanced AI chips through Oracle's data centers in Southeast Asia.
Chips remain a key export driver
China's memory chipmakers are racing to break the Korean stranglehold on AI infrastructure despite US export controls.
What it means
China's September exports rose 36.3% year over year to $447.18 billion, exceeding forecasts and showing resilience in chip manufacturing despite US export controls.
