By Kate Yuan

(JW Insights) Jun 21 -- The Storage Industry Innovation Conference 2023 was held on June 8-9 in Haimen District of Nantong City, eastern China’s Jiangsu Province. The city is keen to establish a foothold in the story industry. JW Insights, China's leading consulting agency on semiconductor and ICT industries, was the organizer of the event.

Attending the conference were leading Chinese companies covering storage industry chain, scientific research institutions, and institutional investors. It discussed the opportunities and challenges in China's storage industry,

Guo Xiaomin, Party Secretary of the Haimen District Party Committee, said, “The new-generation information technology is a key industry for Haimen's future. We will promote Haimen's acceleration into a preferred destination for key semiconductor technologies and storage chip packaging and testing in the Yangtze River Delta.”

Lao Yao, the founder and chairman of JW Insights, said, "China's semiconductor industry is still a sunrise industry. Haimen has obvious location advantages, strong industrial foundation, and efficient government services."

In their keynote speeches, speakers from JW Insights, Huashan Capital, King Tiger Technology, and Prophesee shared information on the industry: Storage chips account for nearly one-third of the market share as the most important category of IC products. The rapid development of 5G, AI, cloud computing, and the IoT has led to increasing demands for data storage chips.

Storage chips and storage systems are not only the cornerstone of the development of the electronic information industry but also related to national strategies such as innovation and digital economy construction. It is urgent to build a storage industry chain that has broader international cooperation and deeper local synergy in the face of sustained external pressure.

China's storage industry started late and has long been in the middle and lower ends of the industry chain. However, the industry chain has achieved rapid development with the rise of domestic storage chip companies in recent years, according to the speakers.

This conference in Haimen provided an exchange platform for the government, industry, and investment organizations involved with the storage industry chain. Eight related projects were signed at the conference.