China has initiated a cybersecurity investigation into Micron Technology, a prominent American memory chip manufacturer. This move seems to be in response to recent restrictions on the sale of crucial technology to Beijing by US allies in Asia and Europe.
The Cyberspace Administration of China (CAC) announced that they will scrutinize Micron’s products sold in the country to ensure the security of key information infrastructure supply chains and prevent cybersecurity risks. This action underscores the importance of maintaining national security in the face of hidden product issues.
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This announcement from China coincided with Japan’s decision to limit the export of advanced chip manufacturing equipment to certain countries, including China. This move aligns with similar actions taken by the US and the Netherlands.
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Micron issued a statement acknowledging the review by the CAC and expressed full cooperation, affirming the security of their products. Despite this, Micron’s stock experienced a significant decline in response to the news.
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Micron had previously warned of potential risks related to Chinese market restrictions, emphasizing the challenges faced by American companies in competing with Chinese counterparts. China has denounced these restrictions on tech exports, affirming its opposition to such measures.
In a bid to attract foreign investments amidst economic challenges, Beijing is actively engaging with global business leaders to foster growth and job opportunities. However, recent actions targeting foreign companies indicate the need to align with China’s agenda.
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