Ministry of Commerce Opens Anti‑Dumping Probe into U.S.‑Origin Analog Chips; Large Window for Domestic Substitution

MOFCOM anti‑dumping probe into U.S.‑origin analog chips

What the investigation is

The Ministry of Commerce (Shangwu Bu 商务部, MOFCOM) announced on September 13, 2025 that it has launched an anti‑dumping investigation into certain imported analog integrated circuits originating in the United States.

The dumping investigation period is set as January 1, 2024 to December 31, 2024.

The industry damage investigation period runs from January 1, 2022 to December 31, 2024.

The products under investigation are described as analog chips that use 40nm process nodes or larger and fall into two primary categories: commodity interface IC chips (general‑purpose interface chips) and gate driver IC chips.

Why analog chips matter

Analog chips are the bridge between the physical world and digital systems.

They handle functions such as signal acquisition and conditioning.

They are characterized by many product categories, long product lifecycles, and highly customized design requirements.

Historically, overseas firms have dominated the analog market due to the high design threshold and long learning curves.

Global market backdrop and size estimates

Industry data (WSTS) shows the global analog chip market declined about 2.7% year‑on‑year in 2024 amid macro weakness and elevated inventories.

As inventories normalize and demand in automotive, industrial automation and data centers recovers, WSTS projects global analog market growth of 3.3% in 2025 and 5.1% in 2026.

WSTS projects the market will reach $82.2 billion USD in 2025 and $86.4 billion USD in 2026.

Converted at an exchange rate of 1 USD ≈ ¥7.25 RMB, those figures equal approximately ¥595.95 billion RMB ($82.2 billion USD) for 2025 and ¥626.40 billion RMB ($86.4 billion USD) for 2026.

China is the largest consumption market — a major near‑term opportunity

China already represents the single largest consumer market for analog chips.

WSTS and Frost & Sullivan estimate China accounted for roughly 35% of the global analog market in 2024.

That makes China a major revenue source for overseas analog suppliers.

For example, in fiscal 2024 approximate revenues from China for several leading foreign analog vendors were:

• Texas Instruments (Texas Instruments, Dezhou Yiqi 德州仪器, TI): 3.0 billion USD — about ¥21.75 billion RMB ($3.0 billion USD)
• Analog Devices (Analog Devices, Ya Denuo 亚德诺, ADI): 2.1 billion USD — about ¥15.23 billion RMB ($2.1 billion USD)
• Monolithic Power Systems (MPS 芯源系统): 1.2 billion USD — about ¥8.70 billion RMB ($1.2 billion USD)

Combined, those three firms reported roughly 6.3 billion USD from China in 2024 — about ¥45.68 billion RMB ($6.3 billion USD).

That gap shows substantial potential room for domestic substitution.

Domestic supply chain readiness and priority application areas

Analog chip production is often concentrated at mature process nodes (40nm and above), where Chinese supply chains have been developing steadily.

Broker and research commentary notes China’s analog self‑sufficiency rate was roughly 16% in 2024.

Domestic penetration is higher in consumer electronics and lower in mid‑to‑high‑end industrial and automotive applications.

Analysts identify three priority areas for domestic substitution:

• Industrial: After inventory digestion, industrial customers are expected to resume normal purchasing and bring new products to market.
• AI / data center: AI systems increase overall analog demand and place a premium on power management and multi‑phase power solutions.
• Automotive: Automotive analog remains an expanding market with many local players moving from development and qualification toward concentrated volume shipments.

Industrial analog parts typically have higher gross margins than consumer parts, which can improve profitability as domestic volumes rise.

Power management ICs for AI/data centers are both a growth opportunity and a technical challenge for local vendors.

Consumer electronics and the Matthew effect

In consumer electronics, many domestic analog vendors began by focusing on a few product lines.

As design capability and customer relationships deepen, vendors broaden portfolios around mobile and other end‑applications, increasingly offering one‑stop solutions.

That concentration of capability and customer trust tends to amplify the market leader effect, sometimes called the “Matthew effect.”

Companies analysts suggest watching

Market analysts name a list of Chinese analog and mixed‑signal companies that could benefit from stronger domestic demand and any policy‑driven import adjustments.

• Shengbang Gufen (Shèngbāng Gǔfèn 圣邦股份)
• Jiehuate (Jiéhùatè 杰华特)
• Siruipu (Sīruìpǔ 思瑞浦)
• Naxinwei (Nàxīn Wēi 纳芯微)
• Nanxin Keji (Nánxīn Kējì 南芯科技)
• Aiwei Dianzi (Àiwéi Diànzǐ 艾为电子)
• Xinpengwei (Xīnpéng Wēi 芯朋微)
• Diaowei / Diao Wei (Dìào Wēi 帝奥微)
• Jingfeng Mingyuan (Jīngfēng Míngyuán 晶丰明源)

• Shengbang Gufen (圣邦股份): General purpose and specialized analog ICs.
• Jiehuate (杰华特): Power management ICs, often for industrial and automotive.
• Siruipu (思瑞浦): High-performance analog ICs, including amplifiers and data converters.
• Naxinwei (纳芯微): Automotive and industrial signal chains, sensors, interface chips.
• Nanxin Keji (南芯科技): Power management ICs, especially for fast charging and portable devices.
• Aiwei Dianzi (艾为电子): Integrated circuits for mobile terminal peripheral devices (e.g., audio, power management).
• Xinpengwei (芯朋微): Power management ICs for consumer and industrial applications.
• Diaowei / Diao Wei (帝奥微): Power management and LED driver ICs.
• Jingfeng Mingyuan (晶丰明源): LED lighting driver ICs and power management solutions.

Implications — short and medium term

Short term, the investigation may provide policy support and a pricing buffer for domestic players while import dynamics are assessed.

Mid term, the larger structural trend is clear: China remains the world’s largest analog chip market.

Sizeable revenue currently flowing to foreign suppliers represents a tangible opportunity for domestic substitution — especially in industrial, automotive and AI power management segments.

That said, analog design is technically demanding and customer qualification cycles can be long.

Local firms that combine design capability, robust product families and deep customer relationships will be best positioned to capture accelerated domestic demand.

Actionable takeaways for investors, founders, and builders

Investors: Watch supplier qualification cycles and contract wins in industrial, automotive, and AI power management segments.

Founders / startup leaders: Prioritize long product roadmaps, customer qualification capabilities, and building one‑stop portfolios to win the Matthew effect.

Partners / supply chain managers: Map out mature‑node capacity (≥40nm) and identify test/qualification partners for automotive and industrial customers.

Marketers & growth teams: Push credibility through technical case studies, cross‑reference qualified certifications, and emphasize reliability in long lifecycle applications.

Linking opportunities

• Internal link: China analog market outlook — landing page covering WSTS trends and market sizing.
• Internal link: Automotive semiconductor qualification checklist — technical resource for tier‑1/Tier‑2 supply chains.
• Internal link: AI power management ICs explained — deep dive on PMICs and multi‑phase power for data centers.
• External link suggestion: company investor relations pages for the named Chinese vendors and for Texas Instruments, Analog Devices, and MPS.

Quick recap

The MOFCOM anti‑dumping investigation targets U.S.‑origin analog chips built at 40nm nodes or larger.

China is the single biggest consumption market, offering a clear commercialization runway for domestic substitution — especially across industrial, automotive, and AI power management.

MOFCOM anti‑dumping probe into U.S.‑origin analog chips

References

• Ministry of Commerce announcement: Anti‑dumping case on imported analog chips from the United States – Ministry of Commerce (MOFCOM)
• Anti‑dumping investigation report: US‑origin analog chips – Cailian Press (财联社)
• COMMERCE: Investigation into U.S.‑origin analog chips (aggregated coverage) – Eastmoney (东方财富)