Goldman picks China chip stocks to buy as tech rivalry with the U.S. grows

Employees work on the production line of silicon wafer at a factory of GalaxyCore Inc. on May 25, 2021, in Jiashan County, Jiaxing City, Zhejiang Province of China.
Wang Gang | China News Service | Getty Images

Goldman Sachs analysts picked some Chinese semiconductor stocks set to benefit as companies look to localize their supply chains.

Among mainland China-traded stocks, especially in technology, the analysts said they like semiconductor and software companies because they are still in an early stage of development relative to global peers.