China is unequivocally the largest market in the world if we stick to the size of its industrial productionto the volume of your e-commerce already its export capacity. If you look at your adjusted gross domestic product purchasing power parity, also leads. However, if we stick to its nominal gross domestic product and domestic consumption per capita, USA is ahead. Be that as it may, depending on the metric we observe, the country led by Xi Jinping establishes itself as the first or second largest market.
Its leadership in some sectors, such as financial services or software, is not entirely clear. And, for this reason, it can be argued. However, in the area of electric cars, steel production either semiconductorsChina leads with authority. In fact, its integrated circuit market is larger than that of the US, Taiwan, South Korea or Japan. And American companies are not at all immune to this reality.
The report “Hurun Top 100 American Companies in China 2026”, which has been prepared by the Hurun Research Institute, defend that the income of twenty-six American semiconductor companies grew on average by 20% in China in 2025 despite the trade tensions between the US and China. Nvidia, Qualcomm, AMD or Intel are some of them. In the current confrontation scenario It is surprising that China remains such an important market for American IC companies.
The Chinese market continues to grow
A note before we move forward: Hurun Research Institute is part of Hurun Inc., a media, data analytics and investment company founded in 1999 by British entrepreneur and analyst Rupert Hoogewerf. The report I told you about a few lines above follows the trajectory of 100 publicly traded US companies and pays close attention to their economic performance in China over the past year.
Western Digital, Analog Devices and AMD have led this expansion
Curiously, 26 of the 100 companies with the highest income from this Asian country belong to the semiconductor sector, which has been classified as strategic by both the US and China. And among the 10 with the highest revenue during 2025 are Qualcomm, Nvidia, Intel, Broadcom, Applied Materials and AMD. Another interesting fact: Western Digital, Analog Devices and AMD have led this expansion with an interannual growth rate of 43%, 34% and 24% respectively. The three occupy positions 33, 30 and 10 on Hurun’s list.
Nvidia is not one of the American companies that has grown the most in China for a compelling reason: it is the most damaged company due to the export controls that the Donald Trump Administration has deployed. Be that as it may, Rupert Hoogewerf has pointed out in a statement that “the strong momentum in this report underscores the Chinese market’s robust demand for computing power for artificial intelligenceof high-end chips, and also the expansion of the semiconductor industrial chain.”
Image | Intel
More information | SCMP
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