中国长鑫存储上市，能否缓解全球芯片短缺

中国长鑫存储（CXMT）于7月29日登陆股市，市值超过5000亿美元，成为中国大陆最有价值的上市公司1。作为全球第四大DRAM芯片生产商，CXMT的上市被寄予改善全球消费电子设备芯片供应、降低中国对韩国和美国芯片依赖的期待1。该公司股价在首日交易中上涨超过500%1。

CXMT目前掌握全球芯片市场约8%的份额，排在三星（36%）、SK海力士（29%）和美光（24%）之后1。2024年，CXMT仅满足国内芯片需求的20%，但计划在未来供应超过三分之二的本地市场1。公司预计到2027年开始在中国供应HBM芯片1。

虽然CXMT可能长期改善供应格局，但专家指出不太可能立即降低芯片价格1。戴尔、惠普和苹果等科技公司已开始测试CXMT芯片1。值得注意的是，美国五角大楼已将CXMT列入与中国军方有关联的公司清单1。

ChangXin Memory Technologies (CXMT) listed on stock markets on July 29, becoming mainland China's most valuable publicly traded company with a market capitalization exceeding 5,000 billion US dollars (717 billion Australian dollars).1 The company's share price surged more than 500 percent on its first trading day.1

As the world's fourth-largest DRAM chip manufacturer with approximately 8 percent market share—trailing Samsung at 36 percent, SK Hynix at 29 percent, and Micron at 24 percent—CXMT is positioned to reshape global semiconductor supply chains.1 The company currently supplies only 20 percent of domestic chip demand in China as of 2024, but aims to eventually provide more than two-thirds of the local market.1 CXMT is also expected to begin supplying HBM chips within China by 2027.1 Prominent technology companies including Dell, HP, and Apple have already begun testing CXMT chips.1

While experts acknowledge that CXMT could help reduce China's reliance on semiconductor imports from South Korea and the United States over the long term, they caution that the company is unlikely to immediately lower chip prices.1 The company's expanded production capacity may eventually help ease global consumer electronics chip shortages.1 Despite its commercial momentum, the US Department of Defense has listed CXMT among companies with alleged connections to China's military.1