Roger Dassen, ASML's chief financial officer, revealed on Wednesday during a video interview for its financial results that China business is expected to take around 20 percent of the company's future revenue. ASML is a key supplier to the semiconductor industry, offering chipmakers essential hardware, software and services to mass-produce integrated circuit patterns.

China's strong market presence for ASML remains notable, despite ongoing export restrictions on certain high-end products. The Chinese mainland last year accounted for 33 percent of the company's net system sales, according to CNBC.

Since 2018, the United States has urged the Netherlands-based company ASML to prevent the export of its cutting-edge extreme ultraviolet lithography (EUV) systems to China, Reuters reported. According to ASML, not a single EUV machine has been delivered to China to date.

The restrictions also cover the less advanced system – deep ultraviolet lithography (DUV) equipment, Reuters added. These export controls have significantly hindered China's push for semiconductor self-reliance in recent years.

In the face of such restrictions, China is focusing on growing its own technologies. In 2024, the Ministry of Industry and Information Technology outlined plans to advance the domestic production of lithography machines with increasingly sophisticated specifications, including 65 nm resolution and 8 nm overlay accuracy. This push towards technological independence signals China's long-term strategy to develop its semiconductor industry while maintaining an open and cooperative global trade framework.

China's AI chip market is poised for remarkable growth with expectations to exceed 1 trillion yuan (around $140 billion) by 2028, accounting for around 30 percent of the global market, according to the Science and Technology Daily. This rapid expansion is expected to drive further cooperation between international and Chinese companies, despite the political tensions surrounding the sector.