China has initiated a cybersecurity investigation into Micron Technology, a leading American memory chip manufacturer. This move seems to be in response to new restrictions imposed by US allies in Asia and Europe on the sale of crucial technology to Beijing. The Cyberspace Administration of China (CAC) will be examining the products offered by Micron within the country to ensure the security of its key information infrastructure. This investigation is part of a broader effort to prevent cybersecurity risks stemming from potential product issues and to safeguard national security.
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Japan, a key US ally, announced on the same day as China’s probe that it would be restricting the export of advanced chip manufacturing equipment to several countries, including China. This decision aligns with actions taken by the US and the Netherlands to limit China’s access to critical semiconductor technology and equipment. Such measures directly impact China’s ambition to establish itself as a technological powerhouse.
Micron has acknowledged the investigation by the CAC and is cooperating fully. Despite the scrutiny, Micron reassures the public of the security of its products and maintains that its operations are running smoothly. However, the news of the investigation led to a 4.4% dip in Micron’s shares on Wall Street, making it the most significant decline in over three months.
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Additionally, with more than 10% of Micron’s revenue coming from China, the company had previously warned about the risks associated with conducting business in the country. Micron had expressed concerns about potential restrictions imposed by the Chinese government that could hinder its market participation and competitive edge against Chinese firms.
China has been vocal in opposing restrictions on tech exports, emphasizing its firm opposition to such measures last month. While striving to attract foreign investments to spur economic growth, Beijing has also increased pressure on foreign firms to align with its policies. Recent actions, such as the closure of a US corporate intelligence firm’s office and the suspension of operations of a global auditing firm in Beijing, underscore the stringent regulatory environment in China.
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