China’s semiconductor exports surged to $177 billion in the first half of 2026, nearly doubling from the same period last year in a 96% year-on-year jump that the Chinese Customs Administration attributes to soaring global demand for AI memory chips.
The staggering increase is largely a price story rather than a volume story. Memory prices have skyrocketed through 2026 — PC-grade DDR4 8Gb modules hit $20 by May, the highest level TrendForce has ever recorded — inflating the value of every chip crossing China’s borders. DRAM and NAND exports, which make up a significant share of China’s outbound semiconductor trade, benefited directly from the AI-driven memory supercycle.
China’s domestic memory champion CXMT is moving toward an $8.6 billion IPO, and reports suggest PC brands are rushing to secure CXMT memory allocations through end-2027 amid easing US-China trade tensions. Apple has reportedly tested CXMT DRAM and lobbied the US government against imposing further restrictions.
But the export numbers are drawing pushback in Washington. US lawmakers introduced legislation calling for a ban on Chinese memory chips in allied supply chains, citing “unacceptable risk” to national security. The proposal would extend existing restrictions beyond advanced logic into memory. China’s chip imports, meanwhile, fell a record 15% in the same period as US export controls continued to bite.
The export data underscores a complex dynamic: China is simultaneously becoming a larger chip exporter on memory price tailwinds while its access to leading-edge technology remains constrained by US sanctions. The $177 billion figure also reflects price inflation — real unit volumes grew far more modestly.
