China’s Ministry of Commerce Opens Anti‑Dumping Probe into U.S.‑Origin Analog Chips — What Investors and Founders Need to Know

Key Points

China anti-dumping probe analog chips is now the headline driving attention across semiconductors, industrial supply chains, and investor decks.

Quick summary — what was announced

On September 13, 2025, China’s Ministry of Commerce (Shāngwùbù 商务部) announced an anti‑dumping investigation into imports of certain analog integrated circuits originating in the United States.

The probe was initiated under Article 16 of the Anti‑Dumping Regulations of the People’s Republic of China.

The dumping investigation period is January 1, 2024 through December 31, 2024.

The industry injury investigation period runs from January 1, 2022 through December 31, 2024.

The targeted products are analog ICs using 40nm and larger process nodes, specifically commodity interface ICs (通用接口芯片, Commodity Interface IC Chip) and gate driver ICs (栅极驱动芯片, Gate Driver IC Chip).

Why analog chips matter — the bridge between the physical and digital

Analog ICs handle signal acquisition and conditioning and therefore sit at the interface between sensors, power systems, and digital logic.

They are highly varied, often highly customized, and have long product lifecycles.

Historically, overseas companies dominated the analog IC market because of high design barriers and long development cycles.

Market backdrop and the numbers you should keep on file

According to World Semiconductor Trade Statistics (WSTS), the global analog IC market fell about 2.7% year‑over‑year in 2024 due to macro weakness and elevated inventories.

WSTS expects recovery as inventories normalize and demand from automotive, industrial automation and data centers picks up.

WSTS projects global analog IC market sizes of roughly $82.2 billion in 2025 and $86.4 billion in 2026 — about ¥600 billion RMB ($82.2 billion USD) in 2025 and ¥631 billion RMB ($86.4 billion USD) in 2026, using an approximate exchange rate of ¥7.30 per $1 USD.

IC Insights reports that in 2023 the top ten analog suppliers were all non‑Chinese, with a CR10 concentration of roughly 68%.

China’s role: a major consumption market

China accounted for roughly 35% of the global analog IC market in 2024, according to WSTS and Frost & Sullivan.

Major foreign analog vendors derive substantial revenue from China.

In fiscal 2024, Texas Instruments (TI, Dézhōu Yíqì 德州仪器), Analog Devices (ADI, Yàdénuò 亚德诺) and Monolithic Power Systems (MPS, Xīnyuán Xìtǒng 芯源系统) earned about $30 billion, $21 billion and $12 billion, respectively, from China — a combined ~$63 billion.

Converted at ¥7.30 per $1 USD, those figures are approximately ¥219 billion RMB ($30 billion USD), ¥153.3 billion RMB ($21 billion USD) and ¥87.6 billion RMB ($12 billion USD), for a combined ≈¥459.9 billion RMB ($63 billion USD).

Domestic supply chain: where substitution can realistically happen

Analog products are often produced on mature process nodes, which is a segment where China’s domestic supply chain is relatively more developed.

Huachuang Securities (Huāchuàng Zhèngquàn 华创证券) estimates China’s domestic self‑sufficiency rate for analog ICs at about 16% in 2024.

Consumer electronics has led domestic substitution.

Higher‑end segments such as industrial and automotive still have wide room for replacement by Chinese suppliers.

Sectors most likely to drive domestic demand and substitution

• Industrial: After inventory digestion, procurement and new product introductions should resume.
• Industrial: Domestic vendors that launched significant R&D‑led products in recent years may see volume scale‑up.
• Industrial: Analog components for industrial applications typically carry higher gross margins than consumer‑oriented analog.
• AI / Data Centers: AI growth will increase overall demand for analog functions.
• AI / Data Centers: Power management ICs — for example, multiphase power regulators — are key incremental and strategic areas for domestic substitution, but are among the harder segments to localize.
• Automotive: Automotive analog is a growing market where domestic substitution is still at an early stage.
• Automotive: Many Chinese suppliers are moving from R&D and product qualification into concentrated volume production.
• Consumer Electronics: Domestic analog vendors historically focused on a few product lines.
• Consumer Electronics: As design capabilities and customer relationships deepen, companies are expanding portfolios around smartphones and other terminals to become one‑stop suppliers.

Companies analysts are watching — watchlist for investors and partners

Analysts highlight several Chinese analog IC vendors to monitor (company name — pinyin, Chinese):

• Shengbang Co., Ltd. (Shèngbāng Gǔfèn 圣邦股份)
• Jiehuate (Jiéhuátè 杰华特)
• SiruiPu (Sīruìpǔ 思瑞浦)
• Naxinwei (Nàxīn Wēi 纳芯微)
• Nanchip Technology (Nánxīn Kējì 南芯科技)
• Aiwei Electronics (Àiwéi Diànzǐ 艾为电子)
• Xinpengwei (Xīnpéng Wēi 芯朋微)
• Diaowei (Dì’ào Wēi 帝奥微)
• Jingfeng Mingyuan (Jīngfēng Míngyuán 晶丰明源)

Practical implications for investors, founders, and product teams

If you invest in or build analog IC businesses, the investigation changes the operating landscape in three practical ways:

• Revenue exposure: Significant foreign analog vendors get a big share of revenue from China, so policy moves meaningfully affect sales channels and pricing.
• Acceleration of localization: The probe could speed procurement shifts toward domestic vendors for commodity 40nm+ products — especially where manufacturing is mature.
• R&D and qualification runway: Full replacement in mid‑to‑high‑end analog markets will still require time and continued investment because of high design barriers.

What to watch next

Track these items to understand near‑term market impact:

• Results of the dumping and injury investigations for the 2024 periods specified.
• Procurement notices from major Chinese OEMs and industrial buyers for commodity interface ICs and gate drivers.
• Volume ramp signals from Chinese vendors named above, especially in industrial and automotive product lines.
• Product qualification milestones for domestic multiphase power regulators used in data centers and AI infrastructure.

Linking opportunities (SEO & editorial)

Suggested anchor texts and internal link targets to improve discoverability and user value:

• Analog IC market analysis — link to an internal market report or category page covering semiconductors.
• Anti‑dumping investigations — link to an explainer on trade remedies and regulatory timelines.
• Power management ICs — link to technical deep dives or product pages for PMICs and multiphase regulators.
• China semiconductor supply chain — link to a timeline or hub page tracking policy, capital flows, and supplier maps.
• Company watchlist — link each company name to profiles, filings, or prior coverage in your publication.

Bottom line outlook

The anti‑dumping probe targets U.S.‑origin analog ICs on 40nm and larger nodes, which cover many established, mature products.

Given China’s large share of analog consumption and the relative maturity of domestic manufacturing for certain node classes, the probe could accelerate localization and support domestic vendors across industrial, automotive and AI‑related power management segments.

That said, high design barriers and the concentration of top suppliers overseas mean full replacement in mid‑to‑high‑end analog markets will take time and continued investment.

Note on currency conversions: U.S. dollar to Chinese yuan conversions in this article use an approximate rate of ¥7.30 per $1 USD (rounded for clarity).

Figures are therefore approximate and provided to show scale in both currencies.

China anti-dumping probe analog chips

References

• 商务部对美产模拟芯片发起反倾销调查 产业链国产化空间广阔 – 财联社
• 商务部对美产模拟芯片发起反倾销调查 产业链国产化空间广阔 – 东方财富
• 商务部就美国对华集成电路领域相关措施发起反歧视立案调查 – 东方财富