China's chip technology is far below the 'Made in China 2025' goal.

A Kunpeng 920 chipset designed by Huawei's HiSilicon subsidiary is on display at Huawei Technologies' headquarters in Shenzhen, China. © Reuters 

According to a study, domestic chip production until 2024 will only meet 21% of domestic demand.

Chips made in China will only account for 20.7% of the domestic market by 2024, lower than the 70% target in the "Made in China 2025" initiative, according to US research firm IC Insights.

China-based integrated circuit manufacturing, which includes central processors and memory chips, is expected to more than double by value from 2019 to 2024 to $ 43 billion, or about 8, 5% of the global market.

The forecast for 17% annual compound growth during this period is given in the context of the country producing chips in their home countries because the United States suppresses Chinese technology giants, especially Huawei Technologies, not for relying on American chips.

But the world's largest chip market is expected to reach $ 208 billion by 2024, IC Insights said.

Companies based outside of mainland China, including Samsung Electronics, Intel and Taiwan Semiconductor Manufacturing Company, have produced more than 60% of Chinese-made integrated circuits by value by year. 2019. IC Insights says they account for at least half of China's output by 2024.

Sino-US technological tensions could spur China to accelerate efforts to increase self-sufficiency. With Washington tightening restrictions on chip shipments to Huawei, Shanghai-based semi-conductor company, Huawei's supplier is stepping up its capital investment to help fill the void.

But it seems that the road is still too far.