Nexperia China Shifts to Yuan-Only Domestic Sales Amid Export Ban
Nexperia's Chinese unit has resumed domestic chip sales under strict yuan-only settlement terms, abandoning U.S. dollar transactions entirely. The MOVE follows Beijing's October 4 export ban, triggered by Dutch government intervention in Nexperia's operations last month.
Dutch authorities seized control from Chinese CEO Zhang Xuezheng on September 30, citing technology transfer concerns through parent company Wingtech Technology. While framed as a corporate governance issue, U.S. pressure significantly influenced the decision—Wingtech already faced Washington's export restrictions.
Distributors now face binding requirements to use yuan for all transactions, including downstream sales. Industry sources suggest this currency shift aims to stabilize domestic supply chains while reducing dependence on Dutch oversight. Notably, production remains anchored in the Netherlands despite these operational changes.
