China’s Chip Exports Hit Record $31 Billion as US Curbs Accelerate Domestic AI Push
China’s chip export figures hit an all-time monthly high in April, Benzinga reported Thursday, citing data shared by market commentary account The Kobeissi Letter. Semiconductor shipments abroad doubled year-over-year to $31 billion, a figure that has tripled within just two years.
A Record Month for Chinese Trade
The chip surge did not stand alone. China’s total export revenue reached $359 billion in April, the highest single-month reading ever recorded. Analysts at Goldman Sachs and Nomura estimated that semiconductors, computers, and related AI hardware accounted for roughly half of that overall export growth. Consumer electronics also posted sharp gains, with overseas laptop and tablet sales rising 47% against the same month last year. The pace of activity was striking enough that The Kobeissi Letter calculated Chinese companies were generating approximately $500 million in export revenue every hour throughout April.
How US Restrictions Are Shaping the Market
The acceleration is widely linked to Washington’s ongoing semiconductor export controls, which have blocked American firms from selling advanced chips into China. Rather than constraining Chinese output, the curbs appear to have pushed domestic producers to scale faster. Semiconductor Manufacturing International Co. (SMIC) and Hua Hong Semiconductor are both expanding capacity. A cluster of Huawei-affiliated chip designers are also either actively ramping production of more advanced nodes or preparing to do so.
Background: Years of Escalating Chip Tensions
The US has tightened chip export restrictions in successive waves since 2022, targeting high-end graphics processors and advanced manufacturing equipment. The policy aim was to slow China’s progress in AI and military computing. Instead, observers argue the controls galvanised state investment in domestic chipmaking. China has channelled hundreds of billions of yuan through its National Integrated Circuit Industry Investment Fund. That sustained backing has allowed companies like SMIC to push toward more advanced process nodes, even without access to the most cutting-edge lithography tools from firms like ASML.
What Analysts Are Watching Next
The record April figures land as trade negotiations between Washington and Beijing remain fragile. Tariff adjustments announced earlier in May offered a temporary pause, but semiconductor-specific restrictions remain firmly in place. Investors are monitoring whether the export pace holds through the second quarter or whether new US measures could interrupt the momentum. For now, the data suggests Chinese chipmakers are finding buyers both at home and in markets where American supply has been squeezed.
Read Next: US-China Trade Truce Faces Its First Real Test as Tariff Deadline Looms
