每经评论员 杜恒峰 10月15日，为期三天的2025湾区半导体产业生态博览会（以下简称湾芯展）在深圳会展中心启幕。600 余家企业集中亮相，数万观众到场参观，数百万投资者紧盯展品背后的市场价值。这场展会，不只是大 湾区芯片产业成果的展示窗口，更藏着中国芯片产业向前走的希望之光。 谁都记得中国芯片曾陷"卡脖子"的至暗时刻，而如今，湾芯展上的一个个展品，正印证着产业链关键节 点的突破——这是中国芯片的"创新硬实力"。以测量芯片质量的关键设备示波器为例，万里眼推出的 90GHz示波器，直接将国产示波器性能提升500%，还超越不少西方厂商，冲到了全球第二的位置。要 知道此前，美国把高带宽实时示波器列入出口管制清单，让国内高端芯片、6G通信、智能驾驶等前沿 领域的发展处处受限，而现在，这样的制约正在被打破。 当然，芯片产业要实现规模效应最大化，离不开全球协作，湾芯展也成了中国芯片产业"开放"的证明。 本届展会有不少外国企业参加，像荷兰阿斯麦、美国应用材料、泛林、科磊，日本东电、迪思科、尼 康、蔡司等，国际展商数量同比增长超50%。中国的芯片市场一直向世界敞开，湾芯展既是国际企业展 示技术的"舞台"，也是它们对接中国客户 ...

Core Insights - The 2025 Bay Area Semiconductor Industry Ecosystem Expo showcases the advancements and potential of China's semiconductor industry, highlighting breakthroughs in key areas and the importance of innovation [1][4] - The expo serves as a bridge for chip companies to connect with opportunities in the largest semiconductor growth market in China, the Greater Bay Area [2] - The event reflects the increasing integration and collaboration within the semiconductor industry, with significant capital investment and international participation [3][4] Industry Overview - China is the world's largest chip consumer, with integrated circuit imports expected to reach approximately 2.8 trillion yuan in 2024, making the Bay Area a critical market for semiconductor companies [2] - The expo emphasizes the complete industrial system in China, which fosters new market opportunities by linking chip manufacturing with various application scenarios [2] - The semiconductor industry is characterized by high capital intensity and long cycles, necessitating support from risk and patient capital, as evidenced by the establishment of a 5 billion yuan industry investment fund in Shenzhen [2] Market Dynamics - As of Q3 2025, the Chinese chip industry has seen 93 merger and acquisition transactions, a 33% increase year-on-year, with a total transaction value of 54.9 billion yuan, reflecting a nearly 50% growth [3] - The expo has attracted a significant number of international companies, with participation from firms like ASML, Applied Materials, and NXP, indicating China's openness to global collaboration [3] - Foreign investments in China are increasing, with companies like Micron expanding operations and NXP establishing a new business line dedicated to the Chinese market [3] Future Outlook - The semiconductor industry in China is moving towards maturity, with a focus on comprehensive system advancements across design, equipment, materials, and software [4] - Continuous innovation and open collaboration are seen as key strategies for building resilience in the industry and seizing future opportunities [4]