With growing maturity of consumer electronics, worldwide semiconductor market has slowed down. Showing strong signs of maturity these days, the industry has had a number of M&As, indicating the market is undergoing restructuring. The Chinese government has spared no efforts to level up andfoster its own semiconductor supply chain, which is getting more full-fledged and pressuring counterparts in the globe, including Taiwan. This report provides an overview of global, Chinese, and Taiwanese semiconductor industry developments, comprising of IC design, foundry, and testing & packaging sectors; explores the key highlights and trends observed inthe semiconductor market; examines the cross-strait industrial chains and issues.