China consumes more than $100 billion worth of semiconductors, or roughly a third of total global shipments, but produces just 6 to 7 per cent by value, according to Bain & Company. As the country looks to expand its semiconductor industry, Kevin Meehan, a partner with Bain, sees limited success in their future: “They can make progress in total production capacity. But they don’t have a clear path to obtain leading-edge process technology.”