Key points at a glance
In 2025, many players are engaging in various games that not only provide entertainment but also enhance their discernment skills.
The most popular games
DHgate, known as Dunhuang in Chinese and dubbed the “Little Yellow App” by shoppers, climbed to second place in the free app rankings on Apple’s US App Store on Tuesday – trailing only ChatGPT – after rising from below the 200th position in just several days, according to data from traffic tracker Sensor Tower.
The app’s sudden popularity was spurred by TikTok videos from Chinese manufacturers claiming to supply global luxury brands. One widely circulated video, initially posted by user “bagbestie1”, suggested that over 80 per cent of luxury handbags were produced in China before being repackaged and sold overseas. The original account is now unavailable.
“There’s nothing a Chinese factory can’t make,” TikTok user “lunasourcingchina” said. One of her videos showed factories in Guangzhou, capital of southern Guangdong province, that allegedly supplied brands like Brooks Brothers, Tommy Hilfiger and Hugo Boss. The video garnered over 3.5 million views in three days.
On Saturday, DHgate recorded 35,400 global downloads across the App Store and Google Play, marking a 56 per cent increase from its 30-day average. US downloads reached 17,300, a 98 per cent increase, according to a report from TechCrunch, citing data from DHgate.
A number of listed Chinese semiconductor companies have reassured investors that they are largely unaffected by China’s increased import tariffs, citing earlier US sanctions as a mitigating factor.
Cambricon Technologies, a Shanghai-listed AI processor developer, said on Thursday that its overseas revenue in both 2023 and 2024 accounted for less than 1 per cent of total revenue. The company already faced significant restrictions from its inclusion on the US Entity List in 2022, it noted.
“The latest tariff increases will not substantially impact our operations,” the company said.
Chip designer Loongson Technology also said on Thursday that the latest tariffs “have no negative impact on the company”, and emphasised its commitment to independent research and development of chips, software systems and self-controllable supply chains, along with zero US-based revenue.
Shenzhen-based IoT chip developer Leaguer Microelectronics issued a statement noting that the bulk of its materials are sourced domestically, and its revenue is exclusively generated within China.
Some companies highlighted their global strategies to manage the impact of tariffs. Longsys Electronics, a major storage systems provider, said on Tuesday that its Brazil subsidiary helped it mitigate the effects of the US-China trade war.
The company also praised its partnerships with memory wafer suppliers in South Korea, the US and China.
“We have the practical capability to flexibly and swiftly adapt strategies to external changes,” Longsys said.
Maxscend Microelectronics, a radio-frequency chip designer based in eastern Jiangsu province, reassured investors on Monday that its emphasis on domestic supply chains mean that “the latest tariff measures have minimal impact on our business operations”.
These reactions reflect a years-long decoupling between the Chinese and American semiconductor industries, and China’s push for technological self-reliance. Given the globalised nature of chip supply chains, determining the true “origin” of many products is often complex.
Analysts said the escalating tariff war could accelerate the adoption of domestic chips, equipment and components.
Gu Wenjun, chief analyst at local semiconductor research firm ICwise, wrote in a commentary for the business news publication Caixin that the escalating tariffs “will help foster a supply chain independent from the US”.
Fan Zhiyuan, chief electronics analyst at Sinolink Securities, said on Tuesday that tariff-driven decoupling would benefit China’s semiconductor sector.
“Ongoing US sanctions have already cut off American parts to key Chinese fabs since early this year, and several US semiconductor equipment firms have withdrawn maintenance personnel from leading domestic wafer fabs,” Fan wrote in a research note. “The latest tariffs present another major opportunity for domestic equipment providers.”
China’s integrated circuit (IC) exports reached 298.11 billion units, valued at US$159.5 billion in 2024, while imports reached 549.2 billion units totalling US$385.6 billion, customs data shows.
In 2024, imports of ICs, semiconductor equipment and materials from the US totalled US$11.8 billion, US$4.5 billion, and US$400 million respectively, representing 3 per cent, 10 per cent and 10 per cent of total imports in their categories.