China has initiated a cybersecurity investigation into Micron Technology, a leading American memory chip manufacturer. The move appears to be in response to new restrictions imposed by US allies in Asia and Europe on the sale of crucial technology to China. The Cyberspace Administration of China (CAC) has announced its review of Micron products sold in the country to safeguard key information infrastructure supply chains and prevent cybersecurity threats. The CAC stated that the investigation is essential for maintaining national security.
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Japan, a US ally, announced restrictions on the export of advanced chip manufacturing equipment to countries like China on the same day. This decision follows similar actions taken by the United States and the Netherlands targeting China’s semiconductor industry. The restrictions impact China’s ambitions to establish itself as a tech powerhouse.
Micron, responding to the review by the CAC, confirmed its awareness and cooperation with the authorities. The company assured the public of the security of its products and the normal operations of its functions. However, Micron’s shares experienced a significant 4.4% decline on Wall Street, marking the largest drop in over three months.
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Beijing has criticized these measures, emphasizing its opposition to restrictions on tech exports. Despite challenges, the Chinese government aims to attract foreign investments to stimulate economic growth and job creation. However, foreign companies operating in China face increasing pressure to align with the government’s agenda, as evidenced by recent actions against firms like Mintz Group and Deloitte.