News Snapshot:
China’s monthly output of chips shrunk to its lowest level since 2020, as strict lockdowns in Shanghai and other cities disrupted production in downstream industries from cars to robotics. Output of integrated circuits in April declined 12.1 per cent year on year to 25.9 billion units, the lowest since December 2020, according to data released by the National Bureau of Statistics on Monday. The drop was in line with a steep dive in production by downstream industries that rely on chips. China’s car output shrank 43.5 per cent last month from a year earlier, as the country’s carmakers and their...
