The semiconductor industry has experienced one of the most comprehensive global divisions of labor of any sector, with the U.S. holding an advantage in upstream technology and the Asian region holding an advantage in manufacturing. The production of integrated circuits (ICs) in China rose by 33 percent in 2021 on a yearly basis. Data from the National Bureau of Statistics shows that China churned out nearly 360 billion ICs last year, compared with about 260 billion units a year before. The country's semiconductor sector is well on its way to catch up with global leaders. A report from the U.S.-based Semiconductor Industry Association shows that China could become the world‘s third largest chip seller with 17.4 percent of global market share by 2024. That is compared with a mere 9 percent in 2020.

Yan Guihai, CEO of Yusur Technology and a professor at the Institute of Computing Technology of the Chinese Academy of Sciences, help us to understand how the global chip race is going to change the industry's development pattern, and the current status of chip design development in China.