China’s imports of Dutch lithography machines have surged this year, with the first seven months already surpassing ASML Holding’s previous forecast for 2023 sales to China, according to a new report, as Chinese firms stock up on the equipment ahead of new export curbs.

From January to July, Chinese imports of Dutch-made lithography machines, nearly all from chip equipment giant ASML, grew 64.8 per cent year on year to US$2.58 billion, Chinese semiconductor industry consultancy JW Insights said in a report published on Friday, citing China customs data.

In January, ASML projected that its sales to China this year would remain steady at about 2.2 billion euros (US$2.36 billion), or 14 per cent of its total annual revenue.

In July, China imported US$626 million worth of lithography machines from the Netherlands, nearly eight times larger than the same month last year, according to the report.

ASML has a near monopoly on the world’s most advanced lithography machines, which are required for the production of cutting-edge chips. Under US pressure, the company has cut off exports of its extreme ultraviolet (EUV) lithography systems to China.