Bloomberg: China Earns $500 Million Per Hour Thanks to AI Development!
Bloomberg report, May 12.
Despite trade tensions with the United States, artificial intelligence development continues to bring substantial revenue to Chinese enterprises.
The media cited assessments from Goldman Sachs and Nomura Holdings, which indicate that sales of semiconductors, computers, and other products closely related to artificial intelligence (AI) accounted for about half of China's export growth in April.
In total, China's overseas exports rose by 14% year-on-year, reaching a record-high monthly figure of $35.9 billion.
This means China earns approximately $500 million per hour on average.
Specifically, integrated circuit exports surged by 100%, while sales of automated data processing equipment and components—including laptops, tablets, and their parts—jumped by 47%.
However, AI is also transforming China’s import structure: purchases of high-tech products from abroad increased by 42%.
Standard Chartered economists found that China has become the world’s largest supplier of AI-related goods by 2025.
During Donald Trump’s second presidential term, China’s chip exports doubled, surpassing $31 billion for the first time in April.
The United States remains the top investor in this field and is still a net importer of certain key technologies, such as advanced chips.
Due to U.S. export restrictions, China lacks the knowledge required to produce the most advanced components; however, it is increasingly solidifying its position in manufacturing so-called "legacy" chips, which remain crucial for a wide range of electronic devices.
Standard Chartered Group economists believe that China’s export outlook remains positive in the short term, but in the long run, everything will depend on whether it can overcome technological bottlenecks, particularly in the research and development of high-precision chips.
Original source: toutiao.com/article/1865021967721475/
Disclaimer: The article represents the personal views of the author