China has opened a cybersecurity investigation into Micron Technology, a leading American memory chip manufacturer. This move appears to be in response to new restrictions on technology sales to Beijing imposed by US allies in Asia and Europe. The Cyberspace Administration of China (CAC) has announced that it will be conducting a review of Micron’s products sold in the country to ensure the security of key information infrastructure supply chains and prevent cybersecurity risks.
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The CAC’s investigation comes on the heels of Japan’s decision to restrict the export of advanced chip manufacturing equipment to countries like China. These actions by US allies are part of a broader effort to curb China’s semiconductor industry and protect national security interests. The Netherlands and the United States have also implemented similar restrictions on tech exports to China in recent months.
Micron has confirmed that it is cooperating with the CAC’s review and stands by the security of its products. However, the news of the investigation has led to a 4.4% drop in Micron’s stock on Wall Street, with shares closing an additional 1.2% lower on Monday.
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Beijing’s crackdown on foreign companies is part of its broader efforts to attract foreign investments while also exerting pressure on businesses to align with its agenda. In recent months, Chinese authorities have taken action against companies like Mintz Group and Deloitte for alleged violations.
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