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China has initiated a cybersecurity investigation into Micron Technology, a major American memory chip maker, in what appears to be a retaliatory move following new restrictions on technology sales to Beijing by US allies in Asia and Europe.
The Cyberspace Administration of China (CAC) will be scrutinizing products sold by Micron within the country, as announced in a statement late on Friday. The objective is to ensure the security of key information infrastructure supply chains, mitigate cybersecurity risks arising from undisclosed product issues, and safeguard national security interests.
This development coincides with Japan’s decision to limit the export of advanced chip manufacturing equipment to various countries, including China–following actions taken by the United States and the Netherlands.
Washington and its allies have imposed constraints on China’s semiconductor industry, impeding Beijing’s aspirations to excel in the tech sector.
Micron, responding to the review, has affirmed its cooperation with the CAC and assured the security of its products. Despite the news causing Micron’s shares to drop by 4.4% on Wall Street, and an additional 1.2% reduction on Monday, the company reiterated that its operations continue unaffected.
Notably, Micron had previously warned of potential risks related to Chinese market participation in a recent filing.
China has vocalized its opposition to tech export restrictions, emphasizing its opposition last month. Despite efforts to attract foreign investments for economic growth, Beijing has also exerted pressure on foreign enterprises to align with its priorities.
This includes recent actions such as shutting down the Beijing office of Mintz Group, a US corporate intelligence firm, detaining local staff members, suspending Deloitte’s operations for three months, and imposing a substantial fine over audit-related concerns on a state-owned distressed debt manager.