On our radar
- 21 September 2026
Summary
China-Japan relations will continue to deteriorate, while China-Russia ties will continue to strengthen, albeit with neither side really trusting each other. Japan’s Prime Minister Sanae Takaichi has cleverly scheduled a meeting with Donald Trump on the sidelines of the UN General Assembly for Tuesday – just one day ahead of Xi Jinping arriving for his summit with the US president,
China semicon watch
CXMT remains one of China’s leading chip companies. Here’s what you should know
China’s ChangXin Memory Technologies (CXMT) has rapidly evolved from a state-backed DRAM startup into a credible global competitor, and its prospects over the next five years look strong but constrained by geopolitics and technology ceilings.
In 2026, CXMT reached about 10% of the global DRAM market, began mass production of its fifth‑generation (G5) DRAM process at ~12 nm half‑pitch, and started shipping LPDDR6 and small batches of HBM3/HBM3E for Chinese AI chipmakers, moves that put its mainstream DRAM nodes broadly on par with what Samsung, SK Hynix, and Micron are volume‑producing today.
Analysts project CXMT’s wafer capacity to more than double from roughly 270,000 wafers/month in 2026 to 600,000+ by 2030, with DRAM bit supply growing at a ~34% CAGR and revenue potentially surging at an even faster pace as it ramps higher‑margin DDR5/LPDDR6 and HBM.
However, CXMT still lags the leaders in cutting‑edge HBM yields, EUV‑enabled scaling beyond the 1a/1b node class, and access to advanced Western equipment under tightening export controls, so its most likely trajectory is to dominate China’s “secure supply” demand and capture mid‑tier global share (roughly 15–20% by 2028–2030 in some forecasts) rather than overtake the incumbents at the technological frontier.
Briefs
Russia and China block Iran sanctions monitoring
18 September 2025
Russia and China vetoed a US resolution at the UN Security Council to extend by one year the mandate of experts monitoring sanctions reimposed on Iran over its nuclear programme. The resolution failed 11–2, with Somalia and Pakistan abstaining. The vetoes leave sanctions in place but create a monitoring gap amid disputes over the legality of a “snapback” mechanism, which would allow previous sanctions to be automatically reimposed if a party claimed Iran had breached its nuclear commitments.
Source: Associated Press News
China’s CXMT unveils advanced chip manufacturing platform
20 September 2025
China’s Changxin Memory Technologies (CXMT) announced mass production using its fifth-generation (G5) chip manufacturing platform, claiming it had narrowed the gap with global leaders Samsung and SK Hynix. The company said G5 boosted storage density by at least 50% per wafer while improving energy efficiency and cost control, and that its 11.95nm process was close to the world’s most advanced memory platforms. CXMT also showcased two 24-gigabit LPDDR5X DRAM chips built on G5, representing a 50% capacity increase over prior-generation mobile DRAM products.
Source: South China Morning Post
Saudi Arabia no longer part of China-led mBridge
20 September 2026
Saudi Arabia last year withdrew from mBridge, a China-led blockchain platform designed to enable direct cross-border transactions between central banks using digital currencies, the Financial Times reported. Riyadh said its departure followed the completion of its planned proof of concept in May 2025, while reportedly continuing some involvement discreetly, according to the FT. The withdrawal highlights US allies’ tension between the efficiency of alternatives to dollar-based payments and concerns about provoking Washington or expanding China’s financial influence.
Source: Financial Times
Japan’s Takaichi to meet Trump ahead of US-China summit
19 September 2026
Japanese Prime Minister Sanae Takaichi and US President Donald Trump will meet in New York on Tuesday, 22 September, a day ahead of Xi Jinping’s arrival for a US-China summit meeting. Takaichi is expected to raise concerns about China’s regional ambitions and urge Washington to consider Japan’s interests during Xi’s visit.
Source: Japan News
Chinese tourist visits to Japan plunge sharply
16 September 2026
Japan’s August international arrivals fell 9.6% year on year to 3.1 million, driven largely by a 59% plunge in visitors from mainland China to just 418,000, the ninth straight monthly decline. The sharp drop followed worsening China–Japan relations and a Chinese government travel advisory that discouraged outbound trips to Japan.
Source: China Travel News