Fast semiconductor growth seen

China's consumption of semiconductors accounts for almost half of the global consumption value, and the industry output value has grown by 34 percent in China over the past four years, twice the 17 percent growth seen worldwide in the same period, according to a report released Wednesday by PricewaterhouseCoopers.

The sector achieved a compound annual growth rate of 24 percent in China between 2001 and 2010, the PwC report said.

The country's consumption of semiconductors reached a record high of 47 percent of the total value of global consumption by the end of 2011, up from less than 19 percent in 2003, according to the report.

The fast growth of the sector is largely due to the development of smartphones and tablets, according to the report. Other factors include the robust semiconductor design segment and exports. About 63 percent of the semiconductors consumed in China are used to process parts of finished products for export to overseas markets, the report said.